The volume of funding for crypto projects has updated a two-year low
Date: 2023-07-03 Author: Karina Ziganova Categories: BUSINESS
In June, venture capitalists made 83 public investments, which is 14% less than last month (97 projects in May 2023). This is stated in the RootData report.
In June, the number of investments in 2023 was 44% less than in the same month last year. In June 2022, venture capital funds invested in 149 projects.
Among the crypto market segments in June, the infrastructure category accounted for approximately 31% of the number of funded projects, DeFi accounted for approximately 18%, CeFi for approximately 8%, and NFT/GameFi for approximately 20%.
At the same time, the total amount of funding in June amounted to $520 million, which is 32% less than in the previous month (only $760 million in May 2023), and 71% less than in the previous year (only $1.81 billion in June 2022).
The most profitable investment rounds
Gensyn, a blockchain-based artificial intelligence computing protocol, has raised $43 million and the investment round was led by the a16z fund with participation from CoinFund, Canonical Crypto, Protocol Labs and others.
Web3 game studio Mythical Games raised $37 million in an investment round led by Scytale Digital with participation from ARK Invest, Andreessen Horowitz and Animoca Brands.
Web3 wallet Galaxy Finance announced the closure of a $30 million funding round, and bitcoin miner Arkon Energy raised $26 million, in addition, startups Dtcpay and Lens Protocol raised $16.5 million and $15 million, respectively.
Crypto Products Build Capital
According to CoinShares, investments in cryptocurrency products continue to set records. Last week, crypto investment products recorded their largest weekly inflows since July 2022.
Bitcoin (BTC) was in the lead with capital inflows of $187 million, while investments in products based on Ethereum (ETH) amounted to $7.8 million, which is only 0.1% of all assets under management. Thus, interest in ETH is now lower than in BTC.
Total assets under management in crypto investment products also reached an annual high, surpassing $37 billion and offsetting losses since the bankruptcy of hedge fund Three Arrows Capital.
