August Sees a 20% Rise in Crypto VC Funding, Reaching $660m

August Sees a 20% Rise in Crypto VC Funding, Reaching $660m

Cryptocurrency Deal Financial resources Investments Increase by 20% in August

The cryptocurrency deal financial resources sector experienced a slight uptick in funding during August, regardless of the ongoing bear market. Although while the number of projects securing funds has dropped, the total amount of funding has been  growing. According to a report by Wu Blockchain, deal financial resources investments in the cryptocurrency space reached $660 Million in August, a 20% increase from July. Nonetheless, this figure is still significantly lower compared to the same period a year ago, down by 57%.

Challenging SEC’s Authority: Paradigm Takes on Lawsuit Against Binance

Preference for Web 3.0, DeFi, and Infrastructure Projects

Web 3.0 projects received the highest share of investments in August, followed closely by DeFi projects and infrastructure projects.

It is worth mentioning that different sources present varying figures. For example, DeFiLlama reported lower funding rounds and a smaller number of investment projects compared to RootData. Notable funding rounds in August included Ramp, BitGo, Pendle Finance, and Maple Finance.

The Best Platform for Mining Cryptocurrency

VC Investments Continue Regardless of Slump in Q2 2023

Regardless of a decrease in deal financial resources investments for digital asset corporations in Q2 2023, recent developments, such as the successful funding round of decentralized exchange Brine Fi, indicate a gradual recovery and brighter future for the cryptocurrency industry.

Hot Take

Regardless of the overall downward trend, the increase in cryptocurrency deal financial resources investments during August suggests resilience and probable for future growth in the industry.

Exploring the Benefits of XSGD Coin: A Closer Look at Singapore’s Stablecoin
Author – Contributor at | Website

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.

Grayscale Files SEC Submission for Ethereum Trust’s Conversion into Spot ETF
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend