New Altcoin projects launched in 2024 have raised huge amounts of Capital

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The new cash flow of the 2024 uptrend has caused many startups with many new ideas to appear. Among them, many new Altcoin projects quickly received attention from funds and raised millions to tens of millions of dollars. And what's more interesting is that these projects have not yet launched Token/coins.

The following are BeInCrypto's notes on some such projects. Through that, we can know the investment trends of VCs. (order of mention has no implications)

1. Midas - Real World Asset sector - mobilized 8.75 million USD

Midas is a new project in the field of Tokenize of US Treasury bonds, similar to Ondo Finance. In the context of the topic Real World Asset (RWA) being of interest and the field of Tokenize of T-Bill being focused on by Blackrock to establish its own fund, Midas was "born late" but has just successfully raised 8.75 million USD from investors. VCs like Coinbase Venture, FrameWorks Venture, 6th Man Venture…

Midas' operating model. Source: Midas' operating model. Source:

Midas' operating model is almost the same as other T-Bill Tokenize projects. Users deposit USDC and receive back ERC-20 mTBILL. Midas has secured each mTBILL Token to represent one share of BlackRock Treasury Bond (iShares $ Treasury Bond 0-1yr UCITS ETF). mTBILL holders can accumulate value from the interest earned on US Treasury bonds while enjoying the full benefits of the platform, services and DeFi strategies using the ERC-20 Token mTBILL.

Midas said that Blackrock is one of the main partners of the project.

2. Sophon – Modular Blockchain field – raised 10 million USD

All investors can know so far about Sophon is that it is a modular blockchain. Although the new Altcoin project has not announced any information about the founder, platform technology, tokenomics... but the project has announced the successful mobilization of up to 10 million USD.

The project's official X website only has 9 posts, and the project's official website only has the wallet connection function, and no other information. Early participants have nothing to do but connect the wallet first. It is unclear how attractive Sophon is but has attracted funds such as The Spartan Group, OKX Venture, Maven 11 Capital, Cooperative Venture, SevenX Venture, Paper Ventures.

Modular Blockchain is a new step in the development of blockchain technology and this concept is starting to gain more attention from mainstream investors in 2024. Modular Blockchain is not a niche but a concept that is being built by multiple projects, each of which can Vai as a specialized “module”.

For example, Data Availability has Celestia (TIA) , Rollup solutions have Dymension ... These are all new projects recently that help bring the concept of Modular Blockchain closer to users.

3. Taproot Chain - Bitcoin Layer 2 field - raised many millions of USD, along with related projects

It can be said that Bitcoin's Taproot upgrade at the end of 2021 has opened up a new market of opportunities for Bitcoin Layer 2 mining projects. Taproot Chain is one of those projects, the project has just announced that it has raised "many millions of dollars" from a large number of investors.

These investors include Negentropy Capital, Digital Pacific Holding, Bitvalue Capital, Hussein Family Office...

Taproot Chain uses OP Stack technology to improve efficiency and scalability, ensuring transparency and security. Taproot Chain promises to bring a significant upgrade to Bitcoin, supporting compatibility with the Ethereum Virtual Machine. It's like unlocking a whole new world of possibilities for Bitcoin with lower fees, faster transactions, smart contract deployment, and Taproot assets.

A similar new Altcoin project also under the Bitcoin Layer 2 theme launched at the end of 2023 and raised 5 million USD is Bitlayer .

Also Read: What is Bitcoin Layer 2 (L2)? Notable Bitcoin L2 projects in 2024

It can be seen that the new projects launched in 2024 and just Capital above are in fields that are being evaluated as having great potential such as Real World Asset, Modular Blockchain, Bitcoin Layer 2... Besides, many projects Launched from 2023 onwards, it has now been reinvested again. However, recent reports show that 2024 recorded an increase in the number of projects Capital by VC but did not increase the amount of investment.

What do you think about the above mentioned Altcoin projects? Chia your comments now in our community Telegram chat | Telegram channel | Facebook fanpage .

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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