Crypto Startups Surpass $100 Billion in Funding

Since late May 2014, cryptocurrency startups have attracted $101.4 billion, according to data from DeFi Llama.

For comparison, by the end of May 2014, the figure stood at $17.1 million. At that time, five years had passed since the creation of Bitcoin and one year since the launch of Ethereum.

A decade later, in May 2024, crypto firms raised $280.25 million, following $777.1 million the previous month. The record of $7.08 billion was set in October 2021.

The presented chart illustrates the rise of minimums and maximums throughout the industry’s history.

Research by Galaxy Digital revealed that in the second quarter of 2023, nearly half of the funds in closed rounds came from investors in the United States. The United Kingdom (7.7%) and Singapore (5.7%) ranked second and third, respectively.

In June, the modular blockchain team Avail closed a Series A funding round, raising $43 million. Read about other significant deals in the industry in the regular institutional bulletin.