Crypto startups hit $100B in funding.
As of the end of May 2014, more than $100 billion has been raised for cryptocurrency startups.
In retrospect, there were highs and lows between regulatory uncertainty and market volatility. But the last four years have seen the roof and floor even though the highs and troughs have continued.
According to data from TVL aggregator Defilama, the total funding recorded for the cryptocurrency industry as of June 16, 2024 is set at $101.35 billion. In the year In May 2014, five years after Bitcoin's creation (and still a year out from Ethereum's launch), the first month of cryptocurrency startup funding was a comparatively modest $17.14 million.
Fast forward 10 years to May 2024, and industry funds hit $280.25 million for the month — up from a decade ago, but down from last month's $777.11 million.
In October 2021, cryptocurrency startup funding reached its peak, raising more than $7 billion. February 2022's $3.67 billion was the second highest on record, with no other month close.
A recent study by 2023 found that nearly half of cryptocurrency funding came from investors in the United States. The rest is divided between several countries, with the United Kingdom (7.7%) and Singapore (5.7%) occupying second and third place, according to 2023 Q2 figures.
As Cointelegraph recently reported, a series of high-profile funding deals have been seen between the end of 2023 and the first half of 2024.
Both Together.AI and cross-chain protocol Wormhole have raised $225 million in investments by the end of 2023, while open-source cloud storage companies Totter and Eigenlayer have added $101 million and $100 million, respectively.
Additional major price increases include Swan Bitcoin's $165 million increase and Blockchain.com's $110 million increase.
Related: Spot Ethereum ETFs May Begin Trading on July 2 – Bloomberg Analyst
