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Data shows that total cryptocurrency funding surpasses the $100 billion mark
Total funding in the cryptocurrency ecosystem has now surpassed $100 billion, underscoring the massive investments poured into the sector since its inception.
Second data powered by DefiLlama, crypto projects have raised a staggering $101.36 billion in 5,287 funding rounds since 2014.
A notable spike occurred in November 2021, a month that saw $7.079 billion in funding. This period coincided with a bull run in the cryptocurrency market. Since then, funding has seen a dramatic decline with some cases seeing notable peaks: $3.6 billion in March 2022 and $3 billion in May 2022.
Cryptocurrency Financing Agreements Since 2014 | Source: DefiLlama
The greatest single financing The event involved EOS, which raised $4.2 billion in an initial coin offering (ICO) on June 1, 2018. EOS, a blockchain platform for decentralized applications, set a precedent with this massive fundraising effort. Interestingly, three more rounds resulted in $1 billion in funding.
One such round involved the Moon Foundation Guard (LFG), which secured $1 billion on February 23, 2022, through a strategic private sale. This financing was intended to support the TerraUSD (UST) stablecoin, with the participation of major investors such as 3AC, Jump Crypto, Tribe Capital and GSR.
NYDIGEven , a company specializing in Bitcoin technology and financial services, raised $1 billion on December 14, 2021. This private equity round saw investments from WestCap, FinTech Collective, Bessemer Venture Partners, New York Life Insurance, and Affirm .
Another major player is Figure, which leverages blockchain for financial services. On May 10, 2019, Figure raised $1 billion through debt financing, with investors including Jefferies and WSFS Bank.
Meanwhile, this year’s monthly funding peak came in March with $1.019 billion, coinciding with Bitcoin’s new all-time high above $73,000. Last week, 34 crypto entities lifted up over $109 million. However, monthly funding has declined from its peak in March amid a broader market downtrend.