Crypto Funding In May Declines: $760 Million Raised From Various Companies

In May, 93 publicly announced investment projects related to the cryptocurrency industry, according to statistics from RootData. This number represents a 13% decrease compared to the previous month and a 40% decrease compared to last year. It is important to note that not all financing is announced in the same month so these statistics may increase in the future.

The primary industry classifications in the crypto market in May were infrastructure projects accounting for approximately 29% of the financing, DeFi accounting for about 18%, CeFi accounting for approximately 6%, and NFT/GameFi, accounting for about 26%. The total financing amount in May was $760 million, a 7% decrease compared to the previous month and a 66% decrease compared to May 2022.

Various companies raised funds in May, with the funding rounds exceeding $20 million, including the technology company Tools for Humanity, Auradine, Cryptocurrency wallet company Magic, Bitcoin technology and financial services company River Financial, emerging Bitcoin mining firm Cormint, Web3 startup Story Protocol, cryptocurrency infrastructure company Anoma Foundation, and Web3 payment and fiat aggregator Transak.

These companies raised a significant amount of funds, which they will likely use for the development and growth of their respective projects. Each company has its unique focus, from creating a global identification system using iris scanning technology to developing cutting-edge technologies like privacy, zero-knowledge proofs, and artificial intelligence. The funds will be used to develop further, research, expand the ecosystem, and form strategic partnerships for their respective projects.

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