The volume of investments in crypto startups increased by 38%

In the first quarter of 2024, the volume of venture investments in the crypto industry reached $2 billion. The indicator broke a two-year downtrend, Crypto Koryo noted.

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Both total investments and number of investments have increased compared to last quarter.

Compared to last quarter, there was a 38% increase in amount invested and 49% increase in the number of projects invested. pic.twitter.com/QhIcsOB0qw

— Crypto Koryo (@CryptoKoryo) April 4, 2024

Analysts recorded a 38% increase in investments compared to the fourth quarter of 2023. The number of transactions increased by 49%, to 250.   

Although the investment volume indicator is seven times lower than ATH, the beginning of an uptrend resembles the situation at the end of 2020 before the parabolic growth of the entire market, experts stressed.

They drew attention to a number of features of the reporting period:

for the first time, investments within the framework of Series A exceeded the indicator of pre-sowing rounds;the number of transactions in the first of these categories has almost doubled;Unlike in previous quarters, when banks and venture capitalists not related to cryptocurrency dominated, industry-oriented firms led by a16z took the lead.Data: Crypto Koryo.

The top 5 largest investments for the quarter included HashKey ($100 million), EigenLayer ($100 million), Zama ($73 million), Berachain ($69 million) and Figure ($60 million).

Data: Crypto Koryo.

In terms of networks, the Ethereum ecosystem has retained leadership in the number of transactions. However, Solana has sharply tightened up to the blockchain indicator. According to experts, this was the result of the boom of meme tokens on the network. They called the presales of assets the actual return of the ICO.

Crypto Koryo noted the appearance of new names like Sui, Scroll, Manta, Berachain, ImmutableX and Blast in the top 20 platforms attractive to venture investors at the end of the quarter.

Data: Crypto Koryo.

Recall that by the end of 2023, investments in blockchain startups amounted to $10.7 billion - 68% less than a year earlier.