Global Crypto Fundraising Surges to $2.71 Billion in Q3 2024 vs Q3 2023

In Q3 2024, global crypto fundraising saw a notable resurgence, reaching US $2.71 billion in total deal value—a substantial 61% jump from the US $1.69 billion recorded in Q3 2023. Deal activity also climbed 38%, with the number of deals rising from 253 to 349. This upward trend suggests a cautious re-entry by investors post-2023’s bear market, reflecting selective optimism rather than full-fledged confidence as they look to blockchain’s foundational strengths.

Significant funding rounds underscore a focus on essential blockchain infrastructure, services and layer 1 chains. Stronghold led with a US $125 million M&A deal, supporting blockchain services and crypto mining operations. Celestia raised US $100 million, offering a modular blockchain network to simplify scaling. Sentient secured US $85 million in seed funding to merge blockchain services with AI capabilities, aiming to enhance decision-making and data processing. Story Protocol, with a US $80 million Series B, is building a chain/layer-1 solution focused on decentralizing content creation and rights management.