May 2024 Blockchain Funding Recap

In May, blockchain venture funding saw a notable increase of approximately 32%, rising from $1 billion in April to just over $1.3 billion. The number of venture deals also grew by about 11%, reaching 293 funding deals last month. This recent uptick in VC activity and interest in the blockchain sector appears to be sustained rather than an anomaly, as evidenced by the data from the past three months. During this period, the average number of monthly investment deals has been consistently around 293.

This marks a significant shift from the previous year’s average of approximately 160 deals per month, suggesting a return to the heightened levels of deal velocity last seen during the bull market periods of 2021 and 2022.