July'24 Blockchain Funding Recap

Blockchain funding rose by nearly 57% from $829 million in June to almost $1.3 billion in July. Despite this surge in funding, deal activity remained relatively flat, with 205 deals in July compared to 192 in June. Throughout 2024, the blockchain sector has averaged approximately $1.1 billion in venture funding per month. Investment in the sector began relatively stable at the start of the year, reflecting ongoing confidence from investors. However, as the year has progressed, this confidence has become more pronounced.

The variability in venture funding for the digital assets sector has fluctuated significantly over the past few years. In 2021 and 2022, the market experienced high variability driven largely by the bull run in digital assets. This period saw substantial peaks and troughs in funding amounts, reflecting the excitement and subsequent decline in the market. By 2023, the market had stabilized, exhibiting the least variability among the years analyzed and the year marked a period where investment levels found a more consistent and stable footing as the initial euphoria of the bull market waned.