Venture capitalists are expected to invest about $12 billion in crypto projects in 2024, according to research firm PitchBook. While VCs have backed application-layer startups such as Coinbase in previous bull markets, PitchBook said this year backers will return to infrastructure projects.
"We haven't seen any applications get this much investment this cycle," said Robert Le, a cryptocurrency analyst at Pitchbook.
Instead, venture capitalists are focusing on infrastructure projects. Venture capital funding in the cryptocurrency sector grew 40% in the first quarter from the previous quarter to $2.4 billion. (DL News)