Data: Venture capital has injected $5 billion into crypto startups by 2024

According to DefiLlama, VCs invested $527 million in Crypto startups in July, up 14.5% year-over-year.

The blockchain infrastructure sector raised $420.7 million last month, with startups contributing the largest amount, accounting for nearly 80% of the total.

Artificial intelligence (AI) protocol Sentient raised $85 million in a round led by Pantera Capital and Framework Ventures, becoming the most successful round of funding for blockchain infrastructure projects.

Blockchain payment network Partior raised a huge $60 million from traditional banking giants JPMorgan Chase and Standard Chartered. Therefore, out of 41 rounds related to infrastructure, only 2 rounds accounted for about 34% of the financing amount.

DeFi protocols received $86 million in investment in July. BTC reboot protocol Lombard raised $16 million, the largest amount of funds raised by a DeFi project last month.

ZAP, a community-driven token distribution protocol based on Blast, raised $15 million from prominent Crypto celebrities such as Pudgy Penguins CEO Luca Netz, Polygon co-founder Sandeep Nailwal, and economist Alex Krüger.

Notably, Layer-1 blockchain Monad’s DeFi ecosystem received a lot of attention from venture capital in July.

Two liquidity pegging protocols, Kintsu and aPriori, raised $4 million and $10 million respectively. In addition, Kuru received $2 million to build a decentralized order book on top of Monad infrastructure.

Last month, the blockchain gaming ecosystem also received funding from venture capital funds, closing out July’s funding with $20.5 million.

Cambria, a Runescape-inspired game on the Blast network, received $2.5 million in investment from Bitkraft and 1kx.

In addition, Pantera Capital, Mantle Ecosystem Fund, and other well-known companies also allocated $18 million to NPCLabs, a protocol company building a blockchain ecosystem.

Compared to last year, venture capital is more interested in Crypto assets this year. From January to July last year, Crypto startups raised $4.22 billion from funds, while Crypto projects raised nearly $5 billion during the same period this year.