VCs Boost Crypto and Blockchain Funding
Venture capitalists invested approximately $13.7 billion in cryptocurrency and blockchain startups in 2024, a 28% increase from $10.7 billion in 2023. Despite this growth, funding levels remain significantly below the peaks of $33.3 billion in 2022 and $29 billion in 2021. Notably, projects distributed almost $15 billion in airdrops this year.
In other news, Bitcoin spot ETFs experienced a net outflow of $388 million from December 23 to 27, while Fidelity's FBTC ETF saw a net inflow of $183 million. The total net asset value of Bitcoin spot ETFs reached $106.683 billion.
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Bitcoin and Ethereum ETF Outflows Report
On February 21, Bitcoin spot ETFs saw a net outflow of $62.77M, while BlackRock's ETF IBIT experienced a net inflow of $21.64M. Additionally, Ethereum spot ETFs recorded a net outflow of $8.92M. Read more here.
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Cosmos Network Transfers $27.7M in BTC
Cosmos Network developers have executed a transfer of 295.3 BTC, totaling approximately $27.7 million, from funds raised during their ICO in 2017. This year, they have also sold 21,600 ETH and another 295.3 BTC, amounting to about $78.67 million in total transactions. Currently, they possess 96.4 BTC and 17,188 ETH, valued at around $67 million.
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