TLDR:
- Crypto VC funding surged by 53% in March, totaling $1.16 billion.
- Optimism’s early-March private token sale was the largest raise of the month at $89 million.
March saw a significant increase in venture capital funding for crypto projects, with a remarkable 53% surge compared to the previous month. In total, crypto projects attracted $1.16 billion in funding, with a focus on infrastructure and decentralized finance sectors. Optimism’s private token sale led the way in March with an $89 million raise, followed closely by cryptography startup Zama with a $73 million Series A funding round.
Interestingly, the United States, despite still leading in the number of funded projects, saw a slight decrease in its dominance. Additionally, infrastructure projects captured a significant chunk of the funding, with blockchain infrastructure projects raising $283 million, while DeFi projects secured $228.1 million. The rise in VC funding for the crypto industry was attributed to renewed enthusiasm and market recoveries. Overall, March marked a significant milestone as total venture capital funding surpassed $1 billion, signaling a positive trend for the industry.
