Crypto projects have received over $90 billion in all-time funding

Quick Take

  • The total, all-time dollar amount invested into crypto and blockchain-related companies exceeded $90 billion this month, according to The Block Research, which has been tracking funding data for startups in the industry since 2017.
  • Animoca Brands and Polychain Capital were among the investors and venture capitalists injecting capital into more than 50 new projects in February.

The all-time, total dollar amount invested in crypto and blockchain-related companies has surpassed $90 billion, according to The Block Research.

More than 50 deals so far this month helped power funding for projects pass the $90-billion mark, also according to The Block Research data, which has been tracking capital flows into the relatively new sector since 2017. 

"When observing the current state of venture funding in the blockchain sector, it’s evident that while we haven’t seen a substantial uptick in funding figures, there are encouraging signs," said The Block Research Director John Dantoni.

The Block Research separates new funding announcements into distinct categories: web3, infrastructure, DeFi, NFTs/gaming, crypto financial services, trading and brokerage, data and analytics, and finally, enterprise. Since the start of the year, more than 230 deals have been reported thus far for a total dollar amount of nearly $1.3 billion, according to The Block Research data.

So far for 2024, the vast majority of funding has been allocated to DeFi, infrastructure, NFTs/gaming and web3 projects. Venture capitalists and investors participating in funding rounds have included Animoca Brands, Polychain Capital, Framework Ventures and Shima Capital. In one of this month's higher-profile investments, Tether, along with Solana co-founder Anatoly Yakovenko, participated in a $25-million Series A investment in the crypto mobile payment firm Oobit.

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"Increased deal activity in recent months, particularly noticeable in Pre-Seed/Seed investments and the risk-on behavior exhibited by Asian VCs, coupled with the growing interest in DeFi & DePIN, paints a picture of investors strategically positioning themselves for what could