Total Crypto Startup Funding Reaches $2.49 Billion in Q1 2024
After three consecutive quarters of decline, cryptocurrency and blockchain startups have seen a significant increase in venture capital investment, according to data compiled by Galaxy Research.In the first quarter of 2024, VCs pumped $2.49 billion into 603 deals for crypto startups, representing a 29% increase in the amount of money raised from the previous quarter, and an increase in the number of deals from the previous quarter of an increase of 68%. Several factors influenced investment dynamics during the quarter, including the launch of Bitcoin exchange-traded funds (ETFs), innovations in areas such as rehypothecation, modularity, and Bitcoin's Layer 2 solutions, as well as macroeconomic factors such as interest rates.
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