Crypto Startups Raise More Than $100B Since May

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Since the end of May 2014, over $100 billion has been raised for startups in the cryptocurrency industry. Despite periods of uncertainty and volatility, this timeframe has seen significant growth in both the highest and lowest levels of funding.

According to data from DefiLlama, as of June 16, 2024, the total amount of funding for the industry has reached $101.35 billion.

In May 2014, after only five years since the creation of Bitcoin and one year before the launch of Ethereum, the first recorded month of cryptocurrency startup funding amounted to $17.14 million.

As of May 2024, a decade later, funding for the industry reached $280.25 million for the month, showing a substantial increase but still falling short of the previous month’s $777.11 million. The peak of cryptocurrency startup funding was achieved in October 2021, with over $7 billion raised.

The second-highest month on record was February 2022 with $3.67 billion raised. Despite the ongoing peaks and troughs, the industry has seen overall growth, surpassing $100 billion in funding raised since May 2014.