🌎 Cryptocurrency Funding Surpasses $100 Billion Mark, Data Shows

The total funding in the cryptocurrency ecosystem has now exceeded $100 billion, highlighting significant investment in this sector since its inception.

According to data from DefiLlama, crypto projects have raised $101.36 billion across 5,287 funding rounds since 2014. A notable peak occurred in November 2021, with $7.079 billion in funding, coinciding with a bull run in the crypto market. Since then, funding has seen a drastic drop, with occasional spikes—$3.6 billion in March 2022 and $3 billion in May 2022.

The largest single funding 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 significant precedent with this fundraising effort. Interestingly, three more rounds have also led to $1 billion in funding.

One such notable round involved the Luna Foundation Guard (LFG), which secured $1 billion on February 23, 2022, through a strategic private sale. This funding was intended to support the TerraUSD (UST) stablecoin, with prominent investors like 3AC, Jump Crypto, Tribe Capital, and GSR participating.

NYDIG, a company specializing in Bitcoin technology and financial services, raised $1 billion on December 14, 2021. This private equity round attracted investment 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.

This year, the monthly funding peak occurred in March with $1.019 billion, coinciding with Bitcoin’s new all-time high above $73,000. Last week, 34 crypto entities raised over $109 million. However, monthly funding has decreased since the March peak amid the broader downward trend in the market.