For the first time since late 2022, the sector has had two months in a row with funding above $1 billion.

The amount invested in cryptocurrency venture capital has exceeded $1 billion for the second month running this year.

According to RootData, the $1.02 billion in fundraising for April came from 161 investment rounds, a slight decrease from the $1.09 billion reported from 186 rounds in March.

But this is the first time the sector has seen two consecutive funding months exceeding $1 billion since October–November 2022.

A $47 million investment spearheaded by BlackRock in the real-world asset tokenization company Securitize and a $225 million investment made by Paradigm and Coinbase Ventures in Monad, a new layer-1 blockchain that is being dubbed the "Solana killer," are two of the most noteworthy fundraises.

The groups behind blockchain infrastructure startup Auradine and Cosmos-based layer-1 blockchain Berachain also received $80 million and $100 million in funding.

Blockchain infrastructure firms received the most venture capital funding in 2024 at $1.7 billion, while decentralized finance protocols come in second at $626 million.

Decentralized autonomous organizations were the least-funded, having only received $3 million so far in 2024.

Over $3.67 billion in funds have poured into the industry, across 604 funding rounds so far in 2024, which is on track to clear the $9.3 billion raised in 2023.

More than $100 billion in funding has now flowed into the blockchain industry across 5,195 funding rounds since June 2014, according to DeFiLlama.

It happens at the same time as cryptocurrency funds Pantera Capital and Paradigm are looking to raise $1 billion and $850 million, respectively.

The cryptocurrency industry's biggest fundraising to date, which occurred in May 2022 when Silicon Valley-based venture capital company Andreessen Horowitz (a16z) raised a record-breaking $4.5 billion, would be a $1 billion raise from Pantera Capital.

It's interesting to note that a16z reported raising $7.2 billion in May to support investments in a number of IT areas, such as gaming and artificial intelligence, but decided against replenishing its fund dedicated to cryptocurrencies.