Last week, crypto fundraising set a new record, amassing an impressive $3.5 billion across 28 funding rounds.
Data from Cryptorank revealed on Monday that the weekly fundraising surge occurred from Oct. 6 to Sunday, exceeding all previous highs, including the nearly $3 billion raised from July 28 to Aug. 3. This increase followed seven weeks of fundraising below $1 billion, signaling a strong return of investor confidence.
In the past six months, weekly fundraising has varied between $150 million and $2.9 billion, illustrating the volatility in crypto venture activities. October’s spike marks a notable breakout.
This substantial fundraising coincided with Bitcoin hitting a record high of $126,000 on Oct. 6, just before a significant liquidation event that impacted crypto markets on Friday.
Blockchain Services Lead Weekly Funding
According to Cryptorank data, blockchain services led the fundraising efforts last week. Out of the 28 rounds logged from Oct. 6 to Sunday, 12 were for blockchain service providers, making it the most active sector.
In second place were centralized finance (CeFi) projects with six rounds, while the rest were allocated to blockchain infrastructure, decentralized finance (DeFi), gaming, and social ventures. This indicates a comprehensive yet service-centric trend in crypto investments.
Pantera Capital emerged as the most active investor last week, engaging in four deals: two in blockchain services and two others in CeFi and social ventures.
Over the past year, Coinbase Ventures has been the most prolific investor overall, completing 73 investments across various sectors. Animoca Brands followed with 63 deals, while Binance-affiliated YZi Labs managed 38. Amber Group and Andreessen Horowitz’s crypto accelerator (a16z CSX) closed out the top tiers with 37 deals each.
Related: Centralized exchanges face claims of massive liquidation undercounts
Record Fundraising Amidst BTC Peak and Market Crash
The record-breaking weekly crypto fundraising occurred between Bitcoin (BTC) achieving a new all-time high and the market undergoing one of its most significant crashes.
On Oct. 6, BTC hit a record high of $126,000, as reported by CoinGecko.
This peak was attributed to the movement of assets from centralized exchanges to self-custody, institutional funds, and digital asset treasuries. However, the excitement was short-lived.
On Friday, US President Donald Trump announced a 100% tariff on China, leading to Bitcoin prices dipping below $110,000.
Bitcoin then plummeted by $16,700, resulting in a 13.7% drop within just eight hours. The sharp decline to $105,000 eliminated 13% of open futures interest in Bitcoin.
The crash also triggered nearly $20 billion in liquidations, primarily driven by the decentralized perpetuals exchange Hyperliquid.
Magazine: EU’s privacy-killing Chat Control bill delayed — but fight isn’t over
