Crypto firms raised $129M last week, led by Flashbots.

Crypto firms raised $129M last week, led by Flashbots.

The Vibrant Landscape of the Blockchain Industry

The blockchain industry, a dynamic and constantly evolving sector, has witnessed yet another eventful week in terms of funding for crypto projects. Last week, venture capital and other investors contributed a total of $129 million to various projects, marking a slight decrease from the previous week’s figure of $201.4 million1. However, this decline in funding does not dampen the enthusiasm and potential of the blockchain industry, as notable fundraisers such as Flashbots and Hi continue to shine through.

Flashbots: Maximizing the Extractable Value of Blockchain Transactions

The standout of last week’s funding round was Flashbots, who secured an impressive $60 million investment. This company has dedicated itself to exploring the concept of maximal extractable value (MEV) within blockchain transactions2. In simple terms, Flashbots seeks to optimize the value extracted from transactions on the blockchain by leveraging knowledge of the order and timing of these transactions. This unique approach allows Flashbots to enhance the efficiency and profitability of interactions between different blockchain participants.

Hi: A Payments Application with a Promising Future

Hi, a payments application, also caught the attention of investors, raising a significant $30 million in funding3. This innovative platform aims to revolutionize the way payments are made by leveraging blockchain technology. By utilizing the decentralization and security features of blockchains, Hi ensures fast, secure, and cost-effective transactions. The increasing adoption of blockchain-based payment solutions by businesses and individuals alike suggests a promising future for Hi and similar applications in the ever-expanding blockchain ecosystem.

A Dominance of Infrastructure and Web3 Projects

Within the blockchain landscape, infrastructure projects continue to dominate the funding charts, accounting for six out of the total projects funded last week4. These projects serve as the backbone and foundation of the blockchain industry, providing the necessary tools and frameworks for other applications to build upon. By enhancing scalability, security, and interoperability of blockchain networks, infrastructure projects play a crucial role in driving the growth and adoption of blockchain technology.

On the other hand, the Web3 category was the only other sector represented in last week’s funding. This category encompasses projects that contribute to the development of the decentralized web, enabling a wide range of decentralized applications and services. As the adoption of blockchain technology expands beyond cryptocurrencies, Web3 projects are becoming increasingly significant in shaping the future of the internet and facilitating decentralized ecosystems.

The Evolving Funding Landscape: Early-Stage Deals and Their Implications

Notably, the majority of funding rounds last week were in the seed or pre-Series A stages, reflecting a trend observed during the prolonged bear market in the blockchain industry5. Early-stage deals carry their own unique characteristics, often involving higher risks and requiring thorough due diligence. As investors navigate a more cautious market, we observe a shift towards smaller rounds with a greater focus on meticulous evaluation and risk management.

To provide a comprehensive view of the funding landscape, let us briefly analyze the data presented in the table below6:

Project Funding Amount
Flashbots $60 million
Hi $30 million
Infrastructure-1
Infrastructure-2
Infrastructure-3
Infrastructure-4
Infrastructure-5
Web3
Dmail Undisclosed

It is important to note that the table only includes funding rounds where a specific amount was disclosed. As a result, one funding round by the Web3 infrastructure project, Dmail, is not reflected in the table. Despite this, the tidbits of information provided offer valuable insights into the state of the blockchain industry’s funding ecosystem.

In conclusion, despite the slight decline in funding compared to the previous week, the blockchain industry remains lively and full of potential. Flashbots and Hi, exemplars of innovation within the industry, have successfully secured substantial funding, showcasing the confidence the market has in their respective visions. Meanwhile, infrastructure and Web3 projects continue to play integral roles in advancing the blockchain ecosystem. As the industry moves towards a more cautious funding environment, characterized by early-stage deals and meticulous evaluation, the resonance of these developments within the blockchain industry cannot be overstated. The blockchain landscape continues to be a captivating space filled with opportunities, and only time will tell what further achievements and breakthroughs lie ahead.

Edited by Parikshit Mishra

Crypto fundraises for the week of July 24 (Brandy Betz / CoinDesk) Crypto fundraises for the week of July 24 (Brandy Betz / CoinDesk)



  1. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

  2. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

  3. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

  4. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

  5. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

  6. Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.↩︎

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