Cryptocurrency fundraising reached a historic high last week, raising a record $3.5 billion across 28 rounds of financing.
According to Cryptorank data released on Monday, the weekly fundraising amount peaked from October 6 to Sunday, surpassing all previous highs, including nearly $3 billion raised from July 28 to August 3. This surge came after seven consecutive weeks of fundraising activities below $1 billion, marking a sharp recovery in investor confidence.
Over the past six months, weekly fundraising amounts have varied from $150 million to $2.9 billion, highlighting the volatility of venture capital activity in the cryptocurrency space. The sudden spike in October represents a significant breakthrough.
This record fundraising coincided with Bitcoin reaching an all-time high of $126,000 on October 6, as well as a massive liquidation event on Friday that led to a crash in the cryptocurrency market.
Cryptorank data shows that blockchain services dominated last week's fundraising activities. Out of the 28 rounds recorded from October 6 to Sunday, 12 rounds were for blockchain service providers, making it the most active sector.
Centralized finance (CeFi) projects followed closely with 6 rounds, while the remaining funds flowed into blockchain infrastructure, decentralized finance (DeFi), gaming, and social enterprises. This reflects a broad but service-driven trend in the cryptocurrency investment landscape.
Pantera Capital was the most active investor last week, participating in 4 deals: 2 in blockchain services, with the others involving CeFi and social enterprises.
Over the past year, Coinbase Ventures has remained the most active participant overall, making 73 investments across multiple sectors. Animoca Brands followed closely with 63 deals, while Binance-associated YZi Labs completed 38. Amber Group and Andreessen Horowitz's cryptocurrency accelerator (a16z CSX) each ranked in the top tier with 37 deals.
The new weekly cryptocurrency fundraising record emerged between Bitcoin (BTC) reaching an all-time high and the market experiencing one of the largest crashes in history.
According to CoinGecko data, on October 6, BTC reached an all-time high of $126,000.
The new high for BTC is related to the asset's transfer from centralized exchanges to self-custody, institutional funds, and digital asset treasuries. However, the celebration did not last long.
On Friday, U.S. President Donald Trump announced a 100% tariff on China, causing BTC prices to drop below $110,000.
Bitcoin subsequently plummeted by $16,700, experiencing a 13.7% adjustment in less than 8 hours. The sharp drop to $105,000 wiped out 13% of Bitcoin futures' open contracts.
This crash also led to nearly $20 billion in liquidations, with decentralized perpetual exchange Hyperliquid leading the decline.
Related: Traders: A "very likely" bull market beginning after the market crash
Original article: “Cryptocurrency Fundraising Sets New Weekly Record of $3.5 Billion”
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