More than $90 billion has been invested in crypto projects since 2017

  • Crypto projects have received more than $90 billion in investments since 2017.
  • Since the beginning of 2024, total funding has amounted to approximately $1.3 billion.

From January 2017 to February 21, 2024, cryptocurrency projects received investments worth more than $90 billion. In total, more than 9,500 funding rounds were announced during this period. The Block reports this.

Investment volume by month. Data: The Block Research.

Analysts noted that projects from sectors such as Blockchain Infrastructure, NFT and GameFi received the most funding. Experts also emphasized that in January 2022, crypto startups received about $5.5 billion in investments.

“Looking at the current state of venture capital funding in the blockchain sector, there is no significant increase in investment volumes, but there are encouraging signs,” said John Dantoni, director of The Block Research.

In addition, the report said that since the beginning of the year, about 230 startups have received funding amounting to almost $1.3 billion, the majority of funds were allocated to projects from the DeFi, Blockchain Infrastructure, NFT, GameFi and Web3 sectors.

The Block added that in recent months, the increased activity of funds that invest in projects at the initial stages has been especially noticeable. Experts also noted the risky behavior of Asian venture funds and the growing interest in the DeFi and DePIN sectors.

John Dantoni said these factors could indicate “the start of a new digital asset cycle.”

“[…] Most funding announcements were for investments under $10 million. However, the number of new deals completed each month has remained relatively stable for several months, although the dollar amounts are well below the levels seen in 2021 and 2022,” it said in the statement.

It should be noted that in the period from February 17 to February 24, 29 projects attracted investments totaling $241.5 million.