RAC

RootData: The total financing amount in the first half of 2025 is 7.75 billion USD, showing characteristics such as a shift in preference for large-scale financing concentration in specific sectors

ChainCatcher news, according to statistics from the Web3 asset data platform RootData, the crypto primary financing market completed a total financing amount of $7.75 billion in the first half of 2025, an increase of 40.17% year-on-year and 77.75% quarter-on-quarter. In March alone, $2.895 billion was raised, with Binance completing $2 billion in financing. If we exclude the impact of this financing, the average monthly financing amount in the first half of the year remained around $950 million, with an average financing amount of $12.419 million and a median of $5.425 million.In terms of the number of financing events, there were a total of 463 financing events in the first half of the year, averaging 77 events per month, a decrease of 49.72% year-on-year and 26.27% quarter-on-quarter. In the financing track, CeFi led with $2.719 billion, surpassing the previously popular infrastructure track ($1.87 billion).It is noteworthy that merger and acquisition events reached 66, an increase of 60.9% compared to the 41 events in the second half of 2024. Additionally, crypto-related publicly listed companies like Circle and Sol Strategies raised a total of $2.233 billion. Both types of financing data set historical records.The most active institutions in the first half of the year were Coinbase Ventures, a16z, and Amber Group, each participating more than 20 times. Following them were institutions such as Animoca Brands, GSR, Selini Capital, 1kx, and Mirana Ventures. The most active angel investors were Raj Gokal, Sam Kazemian, and Balaji Srinivasan.Overall, the financing amount in the crypto primary financing market significantly increased in the first half of 2025, but the number of events continued to decline compared to previous years, showing characteristics such as the concentration of large financings, increased M&A activities, and changes in track preferences, while more funds began to shift towards the more liquid secondary stock market.

4E: BTC slightly retraced, Cathay obtaining a license is positive for market structure

ChainCatcher message, according to 4E observations, as of June 27, 2025, 4:00 PM (UTC+8), Bitcoin (BTC) is currently priced at $107,328, fluctuating in the range of $108,084 to $106,708 over the past 48 hours. The overall technical outlook is neutral; although volatility has slightly narrowed, there is still no clear breakout trend. Major cryptocurrencies are performing steadily, with Ethereum (ETH) hovering around $2,430, while Solana and Cardano have dropped about 2%. The total market capitalization of the crypto market has slightly decreased, with investors returning more to mainstream assets and tending to adopt a wait-and-see approach.On June 24, Guotai Junan International was approved to upgrade its securities trading license to provide virtual asset trading and consulting services. This is the first Chinese-funded brokerage to receive such an upgrade, and its stock price surged nearly 200% in response. This licensing move provides a model for traditional financial institutions to enter the crypto market and enhances confidence in industry compliance.The latest report emphasizes that while crypto assets have the potential to improve cross-border payments and liquidity, they have not yet entered the realm of central bank reserve assets. This statement serves as a reminder to the market that although crypto assets have potential, it will take time for them to be widely recognized as sovereign reserves.The concentration of leverage has put pressure on short-term volatility due to the expiration of a large number of BTC/ETH options, with "Crypto.ro" noting that these options are concentrated around the price "pain point" of $102,000. Meanwhile, Federal Reserve officials mentioned that interest rate cuts need to wait for data support, which continues to put pressure on risk assets in the short term.Overall, the market over the past 48 hours remains influenced by regulatory advancements, macroeconomic data, and geopolitical factors. In the context of compliance processes and institutional entry, the crypto market may experience short-term fluctuations, but the structural driving momentum for the medium to long term continues to grow. 4E reminds investors: short-term volatility is increasing, please pay close attention to regulatory changes and the impact of options expiration, and be sure to control positions and set reasonable stop-losses.
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