The volume of crypto VC funding in Q1 2024 surged for the first time since the start of the crypto winter in 2022.
Venture capital activity in the cryptocurrency industry has seen an uptick in early 2024, marking a potential revival of investor optimism following the bear market.
According to data from “The 2024 Crypto Spring Report” by Chainalysis, Q1 2024 was the first quarter that saw a quarter-over-quarter increase in crypto investment since early 2023. According to the firm, the dynamics may signal a shift in the investment landscape in the crypto industry.
Overall, 2023 saw a sharp decline in capital raised by cryptocurrency companies, which aligned with the crypto winter that started in 2022. After nearing the $10 billion mark in Q4 2022, quarterly crypto funding volumes declined below $2.0 billion in Q2 2023.