Cryptocurrency VC Investment Rises by 27% Year-over-Year, Reaching $990 million in May
CryptoNewsTerminal Staff03 Jun, 2024
Cryptocurrency VC Investment Rises by 27% Year-over-Year, Reaching $990 million in May
Cryptocurrency venture capital (VC) investment saw a 26.9% increase year-over-year in May, reaching $990 million. This represents a 3.9% decrease from the previous month. The number of investments also decreased by 8.9% from the previous month to 153, but increased by 43% year-over-year. Notable investments in May include: - Pacaster, a Web3 social network platform, raised $150 million. - BitDeer, a cloud mining platform, raised $150 million. - Babylons, a bitcoin staking protocol, raised $70 million. The increase in VC investment in cryptocurrency underscores the growing interest in this asset class. As more institutional investors enter the space, we can expect to see continued growth in investment and innovation in the cryptocurrency sector.
