In the first 12 days of August, a staggering $141.3 million has poured into crypto, decentralized finance (DeFi), and blockchain ventures, according to recent metrics. This influx of capital underscores the continued interest and investment in these innovative sectors.

The crypto market has been experiencing a resurgence, with significant funding flowing into various projects. In the first quarter of 2024, crypto startup funding reached $2.4 billion, driven by expectations of lower interest rates and the debut of the first U.S. spot bitcoin ETF. This trend has continued, with $207.28 million invested in AI, crypto, and blockchain startups in just 96 hours. The total investment raised by crypto startups in Q2 2024 was $2.7 billion, despite a decline in the number of deals.

The recent funding surge is not limited to individual projects. Twenty crypto startups have collectively secured $141.3 million in the first 12 days of August, highlighting the broad-based enthusiasm for these technologies. This influx of capital is expected to drive further innovation and growth in the sector.

The blockchain and crypto industries have seen significant advancements in recent months. The U.S. regulatory approval of spot bitcoin ETFs has boosted the legitimacy of the asset class, sending bitcoin to a record high of $73,803 in March. This approval has also increased institutional adoption, further driving investment in the sector.

Startups focused on building infrastructure for crypto and blockchain technology have led the way in funding during the quarter. The largest deal was made by decentralized cloud platform Together AI, which raised $106 million in an early stage round led by Salesforce Ventures, valuing the company at $1.1 billion.

The crypto market's recovery is also reflected in the increased valuations for early-stage deals. These deals are earning higher valuations than late-stage deals, a trend that is expected to continue in the coming quarters. Exits are still low, but mergers are anticipated to pick up later this year, particularly among crypto exchanges, custodians, and infrastructure providers as the market matures.

Overall, the recent funding surge in crypto, DeFi, and blockchain ventures is a testament to the growing confidence in these sectors. As the market continues to evolve, it is likely that we will see even more significant investments and innovations in the coming months.