Odaily Planet Daily News Investment research firm PitchBook said in a report that in the fourth quarter of 2024, the amount of financing in the cryptocurrency field increased by 13.6% month-on-month to US$2.5 billion, with a total of 351 transactions. Investors have made larger investments in a few startups with surging valuations, and for the seed round stage, the average pre-investment valuation increased by 70.2% year-on-year.
The report said that although the total amount of financing in the cryptocurrency field remained stable at US$10 billion in 2024, the number of transactions declined. Investors mainly invested in early-stage startups, with the median valuation doubling year-on-year to US$52 million, while late-stage companies received only 5% of all financing rounds.
PitchBook described 2024 as a year of "increasing investor selectivity" and expects consolidation between infrastructure providers, exchanges and custodians this year, while VCs are particularly keen on two areas: stablecoins and artificial intelligence.