RootData
RootData
Web3 Asset Data Platform

RootData: The total amount of cryptocurrency financing in Q3 exceeded 2.4 billion USD, a decrease of 15% compared to the previous quarter

ChainCatcher news, according to an analysis by the Web3 asset data platform RootData, the financing activities in the Web3 primary market showed a downward trend in the third quarter of 2024. A total of 321 financing events occurred this quarter, a decrease of 25.7% compared to the previous quarter, with a total financing amount of $2.406 billion, down 15.0% from the last quarter. The infrastructure sector continues to lead, with a total financing amount of $745 million, accounting for 30.9%. Notably, the "other" sector (excluding infrastructure, DeFi, NFT, gaming, CeFi, DAO, social, and tools) had a total financing amount of $453 million, making up 18.8% of the total financing. Several driving factors are behind this phenomenon, including the continued popularity of the Meme sector this quarter, a significant increase in AI and Web3 integration projects, and the ongoing expansion of DePin and the Bitcoin ecosystem. Both investors and the market are seeking more new narratives and innovations.In terms of financing scale, the number of large-scale investments (over $10 million) was 43, a decrease of 35.8%. The number of medium-scale (between $5 million and $10 million) financing projects decreased by 30.4%, while the number of early-stage investments (under $5 million) decreased by 14.4%. The largest single financing this quarter came from the Bitcoin mining company Iris Energy, with a financing amount of $413 million. Notably, among the top ten financing projects, the total amount of merger and acquisition transactions reached $681 million, accounting for as much as 57.5%.In terms of investment institutions, Robot Ventures became the most active investment institution this quarter with 22 investments. Among the 12 institutions that made more than 10 investments, infrastructure remained the most popular sector, with DeFi-related projects receiving 56 investments. Binance Labs and OKX Ventures both made 16 investments in the third quarter, with their participation in GamFi-related projects being 5 and 6 times, respectively, making them more active in this sector compared to other investment institutions. Additionally, DAO, NFT, and tools & information projects remained lukewarm.
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