Crypto market fundraising in Q1 2024 surged to $2.4 billion following a turn in market sentiments amid new inflows. A new <\/span>PitchBook<\/span><\/a> report shows a massive jump in investment numbers quarter-on-quarter in the cryptocurrency market.<\/span><\/p>\n According to the report, the sector saw an inflow of $2.3 billion from 518 deals in the first three months of the year. This figure points to a 40.3% rise in investments compared to the previous quarter. This is a huge leap considering increased on-chain activity recorded in Q4 2023.<\/span><\/p>\n <\/p>\n Deal volume or number of transactions increased by 44.7% last quarter. Market valuations were up this year with the rise in asset prices. PitchBook analysts expect to see a steady rise in investment numbers throughout the year.<\/span><\/p>\n \u201c<\/span>for the pre-seed\/seed stage was $21.8 million; the early stage, $72.0 million; and the late stage, $51.1 million, representing YoY increases of 85.5%, 148.3%, and 7.6%, respectively.\u201d<\/span><\/i><\/p>\n<\/blockquote>\n Per the report, infrastructure startup saw the highest inflow led by <\/span>EigenLayer<\/span><\/a> with a $100 million Series B funding while Zama, a crypto company that develops fully Homomorphic Encryption (FHE) saw $73 million inflows.<\/span><\/p>\n <\/p>\n <\/p>\n However, the largest deal of the quarter was Together AI netting $106 million increasing its valuation to $1.1 billion. Deals came with higher valuations for several firms as institutions got invested in the crypto market.<\/span><\/p>\n \u201c<\/span>with median figures registering at $2.7 million for the pre-seed\/seed stage, $5.0 million for the early stage, and $5.8 million for the late stage, representing an increase of 24.9%, an increase of 25.0%, and a decrease of 9.7%, respectively, from full-year 2023,\u201d<\/span><\/i> the report added.\u00a0<\/span><\/p>\n The major factor spurring the rise in investment was the bull market in Q1 that saw crypto prices tap highs not recorded in months. The approval of spot <\/span>Bitcoin ETFs<\/span><\/a> by the United States Securities and Exchange Commission (SEC) triggered a new wave of flows from institutional investors in the crypto market.\u00a0<\/span><\/p>\n <\/p>\n The price of Bitcoin soared above $72,000 attracting investors to the market through the approved window. This bull run also increased VC fund activity.\u00a0<\/span><\/p>\n Also Read: <\/b>XRPL Startup XPMarket Initiates Token Swap After Distribution Error<\/span><\/a><\/p>\n <\/p>\n <\/p>\n \u2713 Share:<\/p>\n\n
EigenLayer Leads The Pack<\/strong><\/h2>\n
Crypto Markets Sees Upticks on Institutional Flows<\/strong>\u00a0<\/span><\/h2>\n
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