Investment in the blockchain and cryptocurrency sector has reached a new pinnacle, with more than $90 billion funnelled into related companies. The surge is attributed to over 50 investments this month alone, which collectively pushed the total beyond the landmark figure.
Capital Injection Rises in Blockchain and Crypto Firms
The Block Research, dedicated to monitoring capital inflows into the burgeoning blockchain space since 2017, has announced that investments in the sector now exceed $90 billion. The research entity has been instrumental in shedding light on the sector’s expansion and progress, marking an important investment threshold.
John Dantoni, the research director, has noted that despite a stable investment volume, the blockchain industry shows promise with a wide variety of investment categories gaining traction, including Web3, infrastructure, DeFi, NFTs/games, financial services within cryptocurrency, trading, brokerage, analytics, and enterprise solutions.
Since the year’s outset, over $1.3 billion has been reported across more than 230 investment deals. The 2024 investment landscape has been dominated by DeFi, infrastructure, NFTs, gaming, and Web3 projects. Leading venture capitalists like Animoca Brands, Polychain Capital, Framework Ventures, and Shima Capital have been active participants. A standout deal featured a $25 million infusion into crypto mobile payment platform Oobit by industry heavyweights Tether and Solana’s Anatoly Yakovenko.
Dantoni has also observed a spike in Pre-Seed/Seed investment rounds and pointed out the audacious investment strategies of Asian capitalists. He mentioned the escalating interest in DeFi and decentralized private investment networks, suggesting investors are preparing for a potential new crypto cycle.
Investment Pattern Reveals Over 9,500 Deals}
While the $90 billion mark is a testament to the sector’s growth, most deals excluding the Oobit investment have been modest, not surpassing $10 million each. Despite a consistent number of monthly deals, the fiscal magnitude falls short of the investment zenith of 2021 and 2022. Nonetheless, over 9,500 deals have been proclaimed since 2017, underscoring the steady interest in crypto and blockchain ventures.