Crypto News– Crypto venture capital funding has seen some fluctuations during the recent bear market, but there are signs of potential improvement. August recorded higher funding figures compared to July, hinting at a potential shift in the trend. The monthly venture capital report from Wu Blockchain reveals an increase in the total funding amount. In August, crypto venture funding reached $660 million, representing a 20% rise from July when it was $550 million. Nevertheless, it’s worth noting that this figure remains 57% lower than the funding levels seen in August 2022, which amounted to $1.54 billion.
Crypto Venture Capital Funding Shows Resilience in August, Soaring 20% to 660 Million Dollars
The report’s data is sourced from RootData, a crypto project database, which identified a total of 73 publicly announced investment projects in the cryptocurrency venture capital sector in August. July had a slightly higher count with 78 investment projects, while August 2022 had a significantly higher number at 132 projects. Despite the marginal increase in investment figures for August, the overall trend in crypto venture capital funding continues to decline.
When examining the distribution of funding, a significant portion went to web3 projects, accounting for nearly one-third of the total funding. DeFi projects received around 19%, and infrastructure projects secured 14% of the funding. It’s important to note that funding figures may vary depending on the data source used. For example, DeFiLlama reported $283 million in funding rounds for August, which is a decrease from the $460 million reported for July. However, DeFiLlama only recorded 41 investment projects, significantly lower than the figures reported by RootData.
According to the Wu Blockchain report, the largest funding round in August was conducted by the payment company Ramp, which raised $300 million and was valued at $5.8 billion. Additionally, crypto custody firm BitGo secured $100 million at a valuation of $1.75 billion.
Two other notable platforms that attracted substantial venture funding in August were Pendle Finance and Maple Finance. Both of these DeFi platforms focus on real-world asset tokenization, which is emerging as a prominent narrative in the crypto space.”
Please note that this information is based on the provided text, and the crypto market is highly volatile and subject to rapid changes.
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