TLDR:
- Crypto venture capital funding raised over $1 billion in April, signaling the onset of a bull season.
- Blockchain infrastructure sector attracted the most funding, followed by DeFi, CeFi, and GamiFi sectors.
The blockchain infrastructure sector attracted over $1 billion in crypto funding in April, closely followed by the DeFi, CeFi, and GamiFi sectors. As crypto traders closely followed the Bitcoin halving event, venture capital firms were busy raising funds to build the necessary infrastructure to enable mass adoption of digital assets and web3 protocols. According to market data from Rootdata, $1.024 billion was raised by different web3 projects in April, although a slight decline from $1.094 billion recorded in March. The cryptocurrency market is already in the early stages of a macro bull run that is expected to take place until the end of next year.
Key Elements of the Article:
The article discusses the following key points:
- April 2024 saw seed funding rounds dominating the crypto venture capital market, with the United States, Singapore, and Britain leading in fundraisings.
- Notable funding rounds include $225 million by Paradigm for an L1 project developed by Monad Labs, $21 million for Bitcoin L2 network Menzo, and $47 million by Securitize led by BlackRock Inc.
- Market data shows a decline in the crypto market industry by nearly $500 billion in April, representing around 16 percent, to around $2.34 trillion.
- Bitcoin price closed the week with a Doji candlestick and is positioned to rally above $70k this week, signaling a bullish implosion ahead.
- An inevitable reversal of Bitcoin dominance could trigger a rejuvenated alt season, with more institutional investors and retail traders betting on altcoins.
