Data: The total financing scale of cryptocurrency startups in Q1 2024 reached 2.49 billion USD

ChainCatcher news, Galaxy Research data shows that after experiencing three consecutive quarters of decline, venture capital investment in cryptocurrency and blockchain startups has seen a significant increase. In the first quarter of 2024, venture capital firms injected $2.49 billion into 603 deals with crypto startups, a 29% increase in funding compared to the previous quarter, and a 68% increase in the number of deals compared to the previous quarter.

Several factors influenced the investment dynamics this quarter, including the launch of Bitcoin spot ETFs, innovations in areas such as re-staking, modularity, and Bitcoin Layer 2 solutions, as well as macroeconomic factors like interest rates.