Cryptocurrency Venture Capital Investments in November Down 9% MoM

According to RootData statistics, the number of cryptocurrency venture capital (VC) investments announced in November was 90, a 9% decrease from 99 in October. The total fundraising amount in November reached $449 million, a 43.66% decrease from $797 million in October. Cryptocurrency VC investment decreased by 43.66% month-over-month. Venture capital investment activity is an important indicator that measures the interest and confidence of major investors in the cryptocurrency market. While cryptocurrency asset valuations surged in November, this increase did not lead to an increase in VC activity. Both the number of deals and the total fundraising amount declined significantly in November. In fact, November was the month with the lowest number of deals and capital raised during 2024. Moreover, the maximum size of individual deals was much lower than the previous month. While September saw 12% less investment than August, it raised $100 million in a single deal. The notable deals in November were all under $50 million. The sectoral allocation of funds showed some similarities to October. Infrastructure, DeFi, and gaming were the highest-performing sectors. However, the figures were much lower, and CeFi investment appears to have plummeted. On November 29, stablecoin issuer usdx.money announced a successful $45 million fundraising round. The company claims this investment has raised its total valuation to $275 million. Major investors include NGC, BAI Capital, and Generative Ventures. usdx.money will use these funds to accelerate ecosystem development. Narrowly in second place is the modular AI chain Zero Gravity Labs (0G Labs), which announced a $40 million seed funding round on November 13. However, the company has secured additional investments, including a $250 million future token purchase commitment and a successful node sale on the same day. Two other cryptocurrency companies tied for third place with $30 million in investments. Online gambling platform Monkey Tilt secured this amount in a Series A funding on November 19. Chinese mining equipment manufacturer Canaan also raised the same amount the previous day, despite last year's downtrend. These four companies were the only cryptocurrency firms to receive over $25 million in venture capital investment in November, a dramatic decrease from the previous month. Nevertheless, the cryptocurrency market has been very bullish, which may help explain this significant change. Ultimately, several companies have directly invested in major BTC purchases, and they are not cryptocurrency companies.