TLDR:
- VC investments in the crypto sector reach $5.8 billion in the first half of 2024.
- The recovery of the crypto market has led to a significant increase in investments compared to the previous year.
In the first half of 2024, venture capitalist (VC) investments in the crypto sector doubled to reach a record figure of $5.8 billion. The recovery of the crypto market in 2024 saw significant gains in various cryptocurrencies, including Bitcoin and altcoins related to artificial intelligence. The increased confidence of investors in digital assets led to a surge in funding for crypto companies compared to the previous year.
After a challenging 2023, investors returned to show interest in the cryptocurrency market, with VC funding for crypto companies reaching $2.7 billion in the first quarter of 2024 and doubling to $3.1 billion in the following three months. The total of $5.8 billion raised in the first six months of 2024 has already surpassed the total for the entire year of 2023, demonstrating growing investor confidence in the sector.
The number of funding rounds for cryptocurrency companies also increased significantly in the first half of 2024, with venture capital investors returning to the market. With a total of 1,404 investments in the first six months, there was a 61% increase compared to the same period in the previous year.
