Total funding for crypto startups in Q1 2024 reached $2.49 billion

According to BlockBeats, Galaxy Research data showed on May 4 that after three consecutive quarters of decline, venture capital in cryptocurrencies and blockchain startups has seen a significant increase. In the first quarter of 2024, venture capital institutions injected $2.49 billion into 603 transactions in crypto startups, with the amount of financing increasing by 29% from the previous quarter and the number of transactions increasing by 68% from the previous quarter. Several factors have influenced investment dynamics this quarter, including the launch of Bitcoin spot funds (ETFs), innovations in areas such as re-staking, modularization and Bitcoin second-layer solutions, as well as macroeconomic factors such as interest rates.