In March, a surge of early-stage investments flooded into blockchain ventures, propelling funding for crypto companies to its highest level in 18 months.
New funding for crypto firms surpassed $1.4 billion, marking March as the most lucrative month since September 2022, when the sector secured over $2 billion in funding.
This substantial increase was fueled, in part, by a surge in Series A investments, as highlighted by John Dantoni, The Block’s Research Director. March saw over 20 early-stage investments, a significant leap from February’s nine, aligning with the monthly average over the past year.
The uptick in funding coincided with a notable rise in cryptocurrency prices, with Bitcoin surpassing $70,000 for the first time ever this month.
Dantoni explained, “Despite the robust performance of digital assets, there was curiosity about the absence of a similar resurgence in venture funding. However, this inquiry often overlooks the timing of deal announcements. Most deals aren’t promptly disclosed, leading to a natural delay between deal activity and price performance. Venture deals typically conclude one to two months, or sometimes longer, before they’re officially announced.”
