DeFi venture funding in May falls to $176.3 million

In May, the total volume of venture deals oriented to the decentralized finance sector stood at $176.3 million. This was the lowest level since September 2021, according to analysts at The Block.

In the overall venture capital inflows into the blockchain industry, the share of the DeFi sector fell to 9% from 18% in April.

According to analyst John Dantoni, for the first time since July 2020, DeFi project funding did not rank among the two most popular deal types in the sector.

In May, the Israeli startup Certora raised $36 million, which became the sector’s largest funding round.

In April there were 12 venture deals with funding volumes of at least $10 million. DeFi projects bloXroute and 0x Labs each raised $70 million, and the smart-contract auditor CertiK — $60 million.

In May, assets locked in the DeFi ecosystem fell by 43%.