Since the tail end of May 2014, the funding for cryptocurrency startups has eclipsed the monumental $100 billion mark.

The trajectory has been marked by exhilarating highs and formidable lows, often under the shadow of regulatory ambiguities and market turbulence. Nonetheless, the past four years have witnessed an elevated baseline, notwithstanding the intermittent crests and troughs.

Data compiled from the TVL aggregator DefiLlama indicates that, as of June 16, 2024, the aggregate funding for the cryptocurrency sector stands at an impressive $101.35 billion. Reflecting back to May 2014, five years post-Bitcoin inception and a year shy of Ethereum’s debut, the inaugural month of recorded cryptocurrency startup funding was a modest $17.14 million.

Advancing a decade to May 2024, the industry amassed $280.25 million in funding for that month — a significant leap from a decade prior yet notably below April’s sum of $777.11 million.

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The apogee of cryptocurrency startup funding was reached in October 2021, with over $7 billion raised. The subsequent closest month was February 2022, recording $3.67 billion.

Research from 2023 indicates that almost half of all cryptocurrency funding originates from U.S. investors. Other significant contributors include the United Kingdom (7.7%) and Singapore (5.7%), based on Q2 2023 data.

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As Cointelegraph has recently reported, a sequence of high-profile funding deals transpired between late 2023 and the first half of 2024.

In late 2023, both Together.AI and the cross-chain protocol Wormhole secured investments amounting to $225 million each. Concurrently, open-source cloud storage company Totter and Eigenlayer garnered $101 million and $100 million respectively.

Additional noteworthy funding rounds included Swan Bitcoin’s $165 million raise and Blockchain.com’s $110 million.