Blockchain funding hits $474 million, startups see boost in May
CryptoNewsTerminal Staff21 May, 2024
Blockchain funding hits $474 million, startups see boost in May
Blockchain startups and projects raised a total of $474.08 million in funding during the month of May, according to data from Bitcoin.com. This represents a significant increase from the $300 million raised in April. Several notable funding rounds were announced in May, including: - Modular blockchain Sophon ($60 million) - Security token platform Securitize ($47 million) - Decentralized cryptocurrency betting platform Polymarket ($45 million) - AI-powered 'palm scanning' identity verification blockchain project Humanity Protocol ($30 million) - Digital asset trading firm Arbelos Markets ($28 million) The funding boost is a sign of the growing interest in blockchain technology and its potential to disrupt a wide range of industries. Startups are developing innovative applications for blockchain, from supply chain management to healthcare. As the blockchain ecosystem continues to mature, it is likely that we will see even more investment in this emerging technology. This investment will help to fuel the development of new blockchain applications and accelerate the adoption of blockchain technology.
