This report offers an overview of the fundraising deals within the global crypto market in August 2024. The goal is to generate valuable information that can be used to pinpoint distinct crypto and blockchain market trends and anticipate future developments. CoinCarp will stay abreast of the changes and developments in the crypto landscape and release a monthly report to keep its readers informed. We would be delighted to hear from you if you have any feedback.

Crypto Fundraising Global Landscape

In August, the total number of crypto fundraising deals was 120, a decrease of -3.23% from the 124 in July 2024; the total financing in August was US$843.45M, a -35.45% decrease from the previous month. 11.67% of the crypto projects are in the Series A series stage. From the perspective of fundraising scale, there were 17 projects of fundraising above $10M, which has decreased by -15%, compared to July 2024. 0 projects of fundraising above $100M, which has decreased -100%, compared to July 2024. By geography, a total of 13 projects founded in the United States of America received $177.15M, becoming the country with the largest number of crypto fundraising projects in the world. Among the $10M fundraising deal projects, mainly the United States of America, Israel, Singapore, and the Russian Federation.

Crypto Fundraising Deal Count by Sector

In August, out of the 120 projects that were successfully financed, 28 of them were Web 3.0 projects, constituting 23.33% of the total projects. These projects raised a total of US279.41M, which is 23.33% of the total funds raised that month. This amount is US$207.06M higher than the funds raised in July 2024.

Out of the 120 Web3.0 projects, the most relevant are those related to the Gaming category, with 11 being in the Gaming category and 4 in the AI category.

In addition to Layer 2, Metaverse, Payment and Privacy, and other categories of related Web 3.0 projects.

In August, a total of 33 projects involving blockchain infrastructure received $306.70M in funding, representing 36.36% of all financing.

There were 33 DeFi-related projects, making up 27.5% of all financing projects in August. The total amount of DeFi-related projects raised was $202.39M, representing 24% of the total financing, this was an increase of 87.75% compared to July 2024.

In August, 6 CeFi projects were funded, comprising 5% of the total number of financing projects. Altogether, these projects raised $54.70M, which was 6.49% of the total financing in August, representing a -39.82% decrease from July 2024.

Additionally, there were 3 NFT projects that have received a total of $7.50M in financing. Representing 0.89% of all financing, this was a decrease of -56.27% compared to July 2024.

Crypto Fundraising Deal Count by Transaction Type

The majority of raised funds for the crypto market come from Series A rounds, the total amount is $233.50M in August. The aggregate deal value of Series A for August is higher than the previous month by 144.44%. The biggest Series A round fundraising is $55.00M, when Chaos Labs gets funding in August 2024.

Number of Investments by Investors

In August, Binance Labs had the most investments, with a total of 11 projects, including 6 Infrastructure, 2 Others, 2 Web3, and 1 DeFi project.

Also, Robot Ventures has invested in 8 projects, with 3 of those investments going towards DeFi projects, 3 towards Infrastructure projects, 3 towards DeFi projects, and 2 towards Web3 projects. Investment institutions funds such as Web3 etc. also invested in more than one project in August.

Top 5 Crypto Fundraising Deals In August

• Story Protocol($80.00M) | Story Protocol aims to unleash an entirely new way to create, govern, and license IP on-chain, ultimately forming an ecosystem of “story legos” that can be remixed and composed. — with participation from 11:11 Media, a16z crypto, a16z crypto, a16z crypto, Adrian Cheng, Berggruen Holdings, Cozomo de Medici, dao5, dao5, Hashed, Hashed, Mirana Ventures, Polychain Capital, Samsung Next, Samsung Next, SLVC, Two Small Fish Ventures, Two Small Fish Ventures
• Bridge($58.00M) | Bridge is building a stablecoin-powered money movement platform, offering services such as payouts, cross-border payments and exchanging foreign currencies — with participation from Haun Ventures, Index Ventures, Ribbit Capital, Sequoia Capital
• Chaos Labs($55.00M) | Chaos Labs is the first automated, on-chain economic security system enabling crypto protocols to optimize risk management and capital efficiency while protecting user funds — with participation from Anatoly Yakovenko, Balaji Srinivasan, Bessemer Venture Partners, Coinbase Ventures, F-Prime Capital, Francesco Agosti, Galaxy Digital, Galaxy Ventures, Hashkey Capital, Haun Ventures, Lightspeed Venture Partners, Lightspeed Venture Partners, Naval Ravikant, PayPal Ventures, PayPal Ventures, Slow Ventures, Spartan Capital, Uniswap
• Morpho Labs($50.00M) | Morpho is a decentralized lending protocol with different entities and individuals contributing to its development and adoption — with participation from a16z crypto, a16z crypto, AngelDAO, Atka, Blocktower Capital, Brevan Howard, Cherry Crypto, Cherry Ventures, Coinbase Ventures, Faculty Capital, Fenbushi Capital, Hack VC, IOSG Ventures, Kraken, L1D(L1 Digital AG), LeadBlock Bitpanda Ventures, Mirana Ventures, Nascent, Pantera Capital, Pantera Capital, Ribbit Capital, Robot Ventures, Rockaway Blockchain Fund, Semantic Ventures, Semantic Ventures, Stake Capital Group, Variant, Variant
• Sahara AI($43.00M) | Sahara is revolutionizing human-AI collaboration by building an AI network that democratizes fair and universal access to global knowledge capital — with participation from Aegis Ventures, Alumni Ventures Group, Alumni Ventures Group, Binance Labs, Canonical Crypto, Canonical Crypto, Coho Deeptech, dao5, dao5, Dispersion Capital, Dispersion Capital, Foresight Ventures, GeekCartel, GeekCartel, Matrix Partners, Matrix Partners, Mirana Ventures, Motherson Group, Nomad Capital, Nomad Capital, Pantera Capital, Polychain Capital, Polychain Capital, Samsung, Samsung Next, Sandeep Nailwal, SCB 10X, Sequoia Capital, Tangent, Tangent

* The data presented is based on information extracted from the CoinCarp Fundraising Database. Announced deals were used in the analysis. Some announced deals might not go on to complete, where deals have failed to complete and were indicated in the data as canceled or withdrawn, they were removed from our dataset. The deal count figures presented in this report refer to the number of deals announced, and whether or not a value has been disclosed for the deal.