Growth of Investments in Cryptocurrency Companies Reaches 18 Months High
Date: 2024-04-01 Author: Oliver Abernathy Categories: BUSINESS
New Rise of Financing
In March, the flow of investment into blockchain-related startups reached its highest level in the past 18 months, rising to more than $1.4 billion.
Record Month
March turned out to be the most successful month since September 2022, with investments in cryptocurrency companies exceeding $2 billion.
Growth in the Early Stages
The Block's research director, John Dantoni, notes a sharp increase in investment in the early stages of project development. Over the month, more than 20 investments were made, which is significantly higher than the previous monthly average.
Dynamics of Prices and Investments
The increase in funding coincided with an increase in the prices of cryptocurrencies. Bitcoin surpassed $70,000 for the first time, spurring interest in investment in the sector.
Reliable Indicator
March confirms the steady growth of venture capital activity in the market. Deal activity increased steadily for the third month in a row, with investments up approximately 64% compared to the previous month.
Venture Capital on the Rise
With an infusion of funds from major players such as Marc Andreessen and Accolade Partners, venture capital investment in crypto projects could continue to rise in the coming months. Projects such as 1kx are already attracting significant investment and continue to develop in a promising direction.
