According to ChainCatcher, citing The Defiant, a Galaxy Digital research report indicates that in the third quarter of this year, seven major deals raised over $2.26 billion, accounting for 48.7% of total venture capital investment in cryptocurrency and blockchain-related companies during the same period.
During this period, venture capital firms invested $4.65 billion in cryptocurrency-focused startups and private companies through 415 deals, a 290% increase quarter-over-quarter, but still below the levels seen in 2021-2022. The growth was primarily driven by later-stage companies, indicating that capital continues to concentrate on established firms rather than early-stage startups.
Despite improving market sentiment and increased investment activity, Galaxy Digital believes that "the golden age of pre-seed cryptocurrency venture capital is over."
