August 2023: A Snapshot of Digitalย currency Investments
In August 2023, the digitalย currency market saw plentyย of interesting developments. According to RootData, there were 73 publicly announced investment projects in the digitalย currency deal financialย resources (VC) space during this month.
Althoughย while this number represents a 6% decrease from July 2023 (which had 78 projects) and a wholeย lotย of 45% fall from August 2022 (with 132 projects), itโs criticalย to note that these figures may change as funding announcements occur at different intervals.
Infrastructure projects accounted for approximately 19% of the total funding share in August, marking a notable 32% decline compared to the previous month.
Total Funding Amount
In August 2023, the total funding amount reached $660 Million, indicating a 20% increase from July 2023โs $550 Million. Nonetheless, this figure represents a wholeย lotย of 57% decrease from the same period overย theย pastย year when the total funding amounted to $1.54 billion.
Notable Investment Rounds
Several notable investment rounds tookย place in August 2023:
- Ramp secured a $300 Million funding round, led by Thrive Financialย resources and Sands Financialย resources, valuing the company at $5.8 billion.
- BitGo raised $100 Million for strategic acquisitions.
- ZetaChain secured $27 Million in funding for its cross-chain infrastructure project.
- ZTX announced a $13 Million seed round for its collaborative project with Zepeto and Jump Crypto.
- Mahjong Meta completed a $12 Million funding round for its Ethereum-based Webย 3.0 mahjong game.
- Binance Labs invested $10 Million in Helio Protocol toย support its expansion to other networks.
Hot Take
August 2023 showcased a dynamic landscape for digitalย currency investments, with a diverse range of projects securing substantial funding. This not only reflects the continued growth of the digitalย currency space but likewise outlines the evolving priorities within the industry.
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