Crypto companies looking to raise funds set a new record, reaching $3.5 billion in a single week last week, before the market crashed on Friday.
Crypto fundraising reached an all-time high last week, with a record $3.5 billion raised across 28 funding rounds.
Cryptorank data showed on Monday that weekly fundraising reached its highest point from Oct. 6 to Sunday, surpassing all previous peaks, including the nearly $3 billion raised July 28 to Aug. 3. The surge came after seven consecutive weeks of sub-$1 billion fundraising activity, marking a sharp resurgence in investor confidence.
Over the last six months, weekly fundraising fluctuated from $150 million to $2.9 billion, underscoring the volatility of venture activity in the crypto space. October’s sudden surge represents a significant breakout.
