Venture capital investment in cryptocurrency and blockchain projects has seen a resurgence after declining for three consecutive quarters. In the first quarter of 2024, fundraising activities attracted $2.49 billion through 603 deals, marking a 29% rise in funding and a 68% increase in the number of transactions, according to a report by Galaxy Research.

The growth in investments during this period coincides with the introduction of the Bitcoin ETF and advancements in Bitcoin layer-2 solutions and restaking. However, it still does not reach the levels when Bitcoin surpassed $60,000. As of now, the trading volume for Bitcoin is 4.06% in the last 24 hours, with a price of $63,009.53.

Nearly 80% of investments went to early-stage startups, indicating a conservative approach by funds towards higher-risk late-stage companies. These later-stage firms received minimal investments from large generalist venture capital funds. Infrastructure emerged as the top segment for investment in the sector, capturing 24% of the funds, with notable rounds like EigenLayer's $100 million.

The United States continues to lead in crypto venture capital investments, accounting for 37.3% of all venture deals.