Cryptocurrency funding reached $4 billion in Q4 2024, with infrastructure leading the way

In the fourth quarter of 2024, venture capital investment in the cryptocurrency sector reached $4 billion in 687 transactions, setting a record for the highest quarterly investment total since the fourth quarter of 2022. The infrastructure track led the way, followed by financial services (with a deployment amount of $970 million). Web3 projects had the largest number of transactions, with 141 transactions, followed by NFT/games, with 132 transactions. Trading and brokerage investment fell from $320 million in the first quarter to $161 million in the fourth quarter. The distribution of transactions in various tracks shows that venture capital focus is changing: DeFi remained stable with a total of 125 transactions; Infrastructure projects had a lower number of transactions (111) than other categories, but accounted for the largest share of funds; Data and analytics remained selective, with only 10 transactions, while enterprise solutions had 18 transactions. The strong performance of financing this quarter, especially in infrastructure investment, indicates that venture capital has renewed confidence in the crypto industry as the market expects that the regulation of the new US government may change.