2024

Solana

Bitcoin

<ul>
 <li>The report states that 518 deals totaling $2.3 billion were closed in the first quarter of this year.</li>
 <li>Investments increased by 40.3% over the previous quarter, according to this report.</li>
</ul>
Fundraising in the cryptocurrency market reached $2.4 billion in the first quarter of 2024, thanks to a shift in market mood and fresh inflows. According to a recent PitchBook analysis, the cryptocurrency sector saw a huge increase in investment numbers quarter-on-quarter.
The bull market in Q1, during which cryptocurrency values reached levels not seen in months, was the primary driver of the increase in investment. Following the <a href="https://thenewscrypto.com/senate-votes-60-38-to-overturn-sec-crypto-policy-biden-opposed/" target="_blank" rel="noopener noreferrer nofollow">SEC’s</a> approval of spot Bitcoin ETFs, a slew of institutional investors poured money into the cryptocurrency market.
Investors flocked to the market with the price of <a href="https://thenewscrypto.com/spot-bitcoin-etfs-thrives-back-as-may-inflows-offset-april-outflows/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> reaching a new ATH of around $73,000. More venture capital funds were active throughout this bull run as well.
<h3 class="wp-block-heading" id="h-substantial-growth">Substantial Growth</h3>
The report states that 518 deals totaling $2.3 billion were closed in the first quarter of this year within the industry. Investments increased by 40.3% over the previous quarter, according to this report. Taking into account the increased on-chain activities seen in Q4 2023, this is a massive jump forward.
There was a 44.7% rise in deal volume or transaction number in the previous quarter. Due to the increase in asset values, market valuations went high this year. The experts at <a href="https://pitchbook.com/" target="_blank" rel="noopener noreferrer nofollow">PitchBook</a> anticipate an increase in investment activity throughout the year.
A crypto firm called Zama, which produces fully homomorphic encryption (FHE), received $73 million in fundraising, while EigenLayer, received $100 million in Series B funding, according to the report.
But with $106 million, <a href="https://www.together.ai/" target="_blank" rel="noopener noreferrer nofollow">Together AI</a> became the biggest deal of the quarter, boosting its valuation to $1.1 billion. As more and more institutions began to engage in the cryptocurrency sector, deal after deal brought increasing values for various companies.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/solana-price-witnesses-an-upsurge-reaching-a-five-week-high/" target="_blank" rel="noopener noreferrer nofollow">Solana Price Witnesses an Upsurge, Reaching a Five-Week High!</a>

Crypto Market Fundraising Hits $2.4B in Q1 2024 Amid Institutional Inflows

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