Venture Funding in Crypto (Q4 2024)

Venture funding in crypto reached $4 billion across 687 deals in the fourth quarter of 2024, marking the highest quarterly investment total since Q4 2022.

Sector Breakdown

Infrastructure investments led with $4 billion deployed, followed by financial services at $970 million. Web3 projects saw the highest number of deals at 141, followed by NFTs/Gaming at 132. Trading and brokerage investments declined from $320 million in Q1 to $161 million in Q4.

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Deal Distribution by Sector

• DeFi maintained steady interest with 125 deals.
• Infrastructure projects captured the lion’s share of capital despite fewer deals (111).
• Data and analytics remained selective, with only 10 deals, while enterprise solutions saw 18 deals.

Notable Trend

A significant trend emerged with Echo.xyz, an angel syndicate platform by Cobie, which has been listed in at least nine investment rounds. The platform’s success was highlighted by filling MegaETH’s remarkable $10 million raise, completed in just three minutes.

Echo.xyz’s model enables Key Opinion Leaders (KOLs) to create investment syndicates where followers can co-invest, potentially democratizing access to early-stage crypto investments.

The quarter’s strong performance, particularly in infrastructure investments, suggests renewed confidence in the crypto sector as markets anticipate potential regulatory shifts under the incoming U.S. administration.

This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.