Cryptocurrency Funding Increases in Late 2024, Reports PitchBook

According to Odaily, investment research firm PitchBook reported a 13.6% quarter-over-quarter increase in cryptocurrency funding during the fourth quarter of 2024, reaching $2.5 billion across 351 deals. The report highlights that investors concentrated their efforts on a few startups with rapidly increasing valuations, leading to a 70.2% year-over-year rise in average pre-money valuations for seed-stage companies. Despite the total cryptocurrency funding remaining stable at $10 billion for 2024, the number of deals declined. Investors primarily focused on early-stage startups, with the median valuation doubling year-over-year to $52 million. In contrast, later-stage companies accounted for only 5% of all funding rounds. PitchBook characterized 2024 as a year of increased selectivity among investors and anticipates consolidation among infrastructure providers, exchanges, and custodians. Venture capitalists showed particular interest in stablecoins and artificial intelligence sectors.