Official estimates point towards $100 billion worth of crypto startup funding since 2014, which is a remarkable achievement for the global crypto sector.
A leading decentralized finance (DeFi) tracker has signaled that overall crypto startup funding worldwide has recently gone above $100 billion. The tracker has been measuring crypto funding deals since 2014. There have been multiple ups and downs in these ten years, but the industry has always emerged stronger. When the tracker started recording the data in 2014, the first month witnessed $17.14 million of crypto funding.
Ten years later, May 2024 recorded above $280 million worth of crypto funding deals. April 2024 was even higher, at $771.11 million. October 2021 saw the highest funding at over $7 billion, followed by February 2022 at around $3.6 billion. The countries witnessing the highest deals range from the US at the top, followed by the UK and Singapore.
Last year, during a ‘funding winter,’ startups in the US crypto sector continued attracting investments. In May 2024, the trends towards higher crypto funding were also estimated.
Even established financial institutions are cautiously dipping their toes in crypto. As a result, startups in the sector have received an impetus to explore further innovations and use cases. From stablecoins and DAOs to central bank digital currencies, blockchain startups are exploring fresh domains.
However, the regulatory landscape surrounding crypto and blockchain is still evolving. Various countries are amidst drafting regulations to boost crypto adoption.
At the heart of blockchain lies a revolutionary concept—a distributed ledger. This essentially means a secure, tamper-proof record of transactions replicated across a network of computers. It fosters unprecedented levels of transparency and trust, which can be immensely valuable for startups.
This distributed ledger technology has led to innovation through tokenization, DeFi, and other decentralized collaborative projects.
Check out Millionero’s blog for the latest updates from the global crypto sector!