In July 2023, the crypto industry saw significant recovery in venture capital activity, with total funding reaching $5.36 billion—a sharp 88% increase compared to June.
Crypto Industry Rebounds
In July, there was a remarkable surge in crypto funding, totaling $5.36 billion. This represents an 88% increase amid an 8% decline in the total number of deals, indicating that investments are becoming larger and more concentrated.
AI Projects Attract Funding
Artificial Intelligence emerged as the leading category in investor allocations, attracting significant attention. The convergence of AI and blockchain is creating new opportunities for data management and decentralized analytics, suggesting that AI’s role in the crypto sector is becoming increasingly significant.
Public Companies Actively Invest in Crypto
Beyond the VC space, public companies like MicroStrategy, Upexi, and MEI Pharma expanded their crypto treasuries through strategic purchases of Bitcoin, Solana, Ethereum, and other digital assets. This trend highlights the growing incorporation of crypto into corporate financial strategies.
The strong growth in crypto funding in July reflects a renewed interest from investors and the proactive steps taken by public companies to invest in digital assets.
