$782 Million Crypto Investment in October 2024: Blockstream, Azra Games, and More

$782 Million Crypto Investment in October 2024: Blockstream, Azra Games, and More

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According to RootData data, 95 openly divulged crypto VC financialinvestments happened in October, representing a 3.06%decrease from September’s 98 rounds.

October’s overall fundraising quantity reached $782 million, a 28.84% increase compared to the $607 million raised in September.

Notable Increase in Crypto VC Investments

Venture capital activity acts as a essential barometer of significant financiers’ interest and self-confidence in the crypto market. Although October saw the mostaffordable number of openly revealed crypto VC rounds in 2024, with just 95 offers, financier dedication stayed strong.

Despite less rounds, the overall funds raised rose, reaching $782 million — a substantial boost from the $607 million raised in September. The increase in financing volume highlights an positive outlook amongst financiers, even inthemiddleof financial and political shifts. 

Read more: Best Investment Apps in 2024

Crypto Fundraising Trends
Crypto Fundraising Trends. Source: RootData

Interestingly, the allowance of funds throughout sectors has moved considerably. In September, facilities and DeFi tasks caught over half of the overall financialinvestment worth.

In October, the facilities sector led with $249 million raised, while videogaming, DeFi, and CeFi followed with $92.5 million, $88.8 million, and $70.18 million, respectively.

Blockstream’s $210 Million Round Steals the Spotlight

October’s biggest financing occasion was Blockstream’s $210 million round, led by financialinvestment company Fulgur Ventures. The funds will assistance the adoption and advancement of Blockstream’s Layer-2 innovations and growth of its mining operations.

Azra Games raised $42 million from Pantera Capital, with contributions from A16z Crypto, A16z Games, and NFX, to speedup the advancement of its mobile role-playing videogame, Project Legends.

Read more: Top Blockchain Companies in 2024

Most Funded Crypto Projects of Octover2024 Source: RootData

Yellow Card, a South African centralized exchange and the biggest certified stablecoin on/off-ramp in Africa, protected $33 million in a Series C round led by Blockchain Capital. This mostcurrent financing brings Yellow Card’s overall equity funding to $85 million, supporting its growth in digital monetary services throughout the continent.

“This fundraise not just shows our durability, however likewise highlights the crucial function of digital properties for organizations throughout Africa. We are ecstatic about the chances, collaborations, and journey ahead; and I’m proud to work with an amazing mate of financiers that share our vision for the market and the continent,” stated Chris Maurice, CEO and co-founder of Yellow Card.

Glow and Nillion rounded out the leading 5 biggest financialinvestment rounds of October. Glow, a decentralized physical facilities network (DePIN) of solar farms throughout the UnitedStates and India, protected $30 million from Framework and Union Square Ventures. The platform incentivizes solar farms to outperform conventional energy grids through an economy based on aids and token benefits.

Meanwhile, privacy-focused blockchain task Nillion raised $25 million in a round led by Hack VC, taking its overall financing to over $50 million. Nillion runs at the crossway of blockchain and synthetic intelligence, focusing on safeandsecure information sharing and storage. Key partners in its environment consistof NEAR, Aptos, Arbitrum, ZKPASS, and Ritual.

Disclaimer

In adherence to the Trust Project standards, BeInCrypto is devoted to objective, transparent reporting. This news post intends to offer precise, prompt details. However, readers are encouraged to validate truths separately and c

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