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Cryptocurrency Startup Funding Exceeds $100 Billion (Cryptocurrency:BTC-USD)
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Cryptocurrency startups have taken in more than $100 billion in total funding since 2014, according to data compiled by DeFiLlama, with $3.54 billion raised through May this year alone due to a surge in bitcoin (BTC-USD) and other digital tokens.
DeFiLlama is an aggregator that tracks the cryptocurrency industry’s total locked value, or the total U.S. dollar value of digital assets locked, or tied, to a particular blockchain network via decentralized financial platforms.
According to data, since 2014, crypto startups have seen a total of 5,287 funding rounds that have raised a total of $101.36 billion. October 2021 was the best month in this time period, with over $7 billion raised.
Earlier this year, cryptocurrency industry news and research outlet The Block said the all-time total dollar amount invested in cryptocurrency and blockchain-related companies surpassed $90 billion in February. The company cited startup funding data monitored since 2017.
The $100 billion milestone comes just months after the cryptocurrency industry received long-awaited relief from the U.S. Securities and Exchange Commission (SEC) approval of spot bitcoins (BTC-USD) products traded on exchanges in January.
Not long after, bitcoin (BTC-USD) increased to a record high of $73,000 in March, although it has since retreated following its latest halving on April 19, 2024. Halving events reduce the rate at which new coins are created and therefore reduce the available amount of new supply.
For investors who want to track bitcoin (BTC-USD) targeted funds, here are some names to watch out for: (IBIT), (GBTC), (FBTC), (ARKB), (BITB), (HODL), (BRRR), (BTCO), (EZBC), AND (BTCW).