October 2024 saw a significant increase in crypto industry investments, reaching $1.76 billion, reflecting a 96% growth compared to the previous month.
October Deal Growth
The deal count in October rose to 282, a 25% increase from September. Notable funding rounds included $525 million by Praxis and $68 million by the platform Infinite. Kraken also received a grant of 25 million OP tokens from the Optimism Foundation to start Layer 2 called Ink.
Mixed Crypto Fundraising Results
The financial sector saw a 2% decrease in deal volume to $259 million, but the deal count grew by 23% to 92. Major deals included $100 million by Kraken and $33 million by Yellow Card.
Infrastructure Funding Increase
Infrastructure sector deal volume grew by 73% compared to September, reaching $92 million. Among significant deals was $30 million raised by Glow.
October 2024 showcased significant growth in crypto investments, especially in the startup and infrastructure sectors.
