Odaily Planet Daily reported that The Block Pro financing data shows that VCs invested about $13.7 billion in cryptocurrency and blockchain startups in 2024, a 28% increase from $10.7 billion in 2023. However, the funding is still far below the peaks of $33.3 billion in 2022 and $29 billion in 2021. Dragonfly general partner Rob Hadick said, "It is surprising that VC funding has not accelerated faster than in 2023, as Bitcoin has risen over 150% year to date. I expect this may be because the LP (limited partner) market has remained relatively sluggish, and most venture capital firms lack the confidence to seriously deploy the remaining funds until they raise (or at least are sure they will be able to raise) new funds." Galaxy Ventures general partner Will Nuelle also expressed a similar view, stating that while the funding growth in 2024 is encouraging, it seems trivial compared to the broader market rebound. Meanwhile, Hack VC co-founder and managing partner Ed Roman said that the growth aligns with his expectations, "The election results won't be announced until the end of the year, so the ripple effects have yet to be felt." In 2024, early-stage financing dominated, with Pre-Seed round deals hitting an all-time high of over 1,180 transactions (a 68% year-on-year increase), highlighting strong interest in emerging projects. Despite the overall inflow decreasing, the total amount for seed round financing reached $3.4 billion, close to the $3.8 billion in 2021. A round financing exceeded 175 transactions (a 59% year-on-year increase), raising $2.8 billion (a 46% year-on-year increase). Meanwhile, mid-to-late stage financing has decreased, paving the way for mergers and acquisitions (M&A). Overall, top cryptocurrency venture capital firms are cautiously optimistic about 2025. While funding levels are not expected to return to the highs of 2021-2022, industry insiders unanimously believe that startups with high product-market fit and user adoption are most likely to receive funding in the coming year.