Venture capital firms are increasingly turning their attention towards cryptocurrency startups, with a notable spike in investments recorded in February.

Key Highlights:

  • Last month, crypto startups secured $485 million in funding, marking a 5.3% increase from the previous month.
  • Infrastructure-related startups received a significant portion of the capital, with $387 million allocated to this sector.
  • The largest venture capital allocation in February was a $100 million investment by a16z in EigenLayer.
  • DeFi projects attracted over $48 million in investments, with Superform Labs and Omega securing notable funding.
  • Web3-focused applications and gaming studios also received substantial investments during the month.

“The surge in venture capital investments highlights the growing interest in the cryptocurrency sector,” said an industry expert.

Despite the positive trend in February, PitchBook data from October suggests a slowdown in crypto market investments. In the third quarter of 2023, venture capitalists invested $2 billion in crypto, representing a 63% decrease from the same period in 2022.

For more updates on the latest developments in the cryptocurrency industry, stay tuned to Global Crypto News.

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