Cryptocurrency startup funding has surpassed $100 billion since May 2014, according to data from DefiLlama.This achievement comes despite a history of highs and lows within the industry, including ongoing regulatory uncertainty and market fluctuations.
The past four years have been particularly significant, with both the total amount of funding raised and the baseline for investment increasing. As of June 16, 2024, the total funding for the cryptocurrency industry stands at $101.35 billion.
For comparison, the first month of recorded cryptocurrency startup funding, back in May 2014, only saw $17.14 million raised. This highlights the substantial growth the industry has experienced in just over a decade.
While funding continues to fluctuate, with May 2024 reaching $280.25 million compared to the previous month’s $777.11 million, the overall trend is positive. October 2021 remains the peak month for funding, with over $7 billion raised.
The United States continues to be a major source of investment in cryptocurrency startups, contributing nearly half of all funding. Other significant contributors include the United Kingdom (7.7%) and Singapore (5.7%), based on data from Q2 2023.
Recent months have seen a number of high-profile funding rounds, further solidifying investor interest. These include Together.AI and Wormhole raising $225 million each in late 2023, and Totter and Eigenlayer securing $101 million and $100 million respectively.
Additionally, Swan Bitcoin and Blockchain.com attracted significant investments of $165 million and $110 million.
