📣 August Sees Continued VC Interest in Blockchain Startups Despite Market Challenges

🔥 In August 2024, the blockchain and crypto sectors continued to attract significant venture capital investments, despite a slight decrease in the number of deals compared to earlier in the year. Several notable funding rounds took place, highlighting ongoing investor interest in Web3 and blockchain technologies:

1️⃣ Orderly Network raised $5 million for its multichain order book solution.

2️⃣ Echelon secured $3.5 million for DeFi lending on Move blockchains.

3️⃣ Solayer Labs raised $12 million to improve Solana's network infrastructure.

4️⃣ Parlay Labs received $2 million for its no-code memecoin platform.

5️⃣ Level developer Peregrine Exploration raised $3.6 million for a stablecoin protocol.

6️⃣ Layer-1 network Quai secured $5 million and launched its devnet.

📌 These investments span various areas of the blockchain ecosystem, including DeFi, infrastructure improvements, and new blockchain protocols. The continued influx of capital suggests that investors remain optimistic about the long-term potential of blockchain technology, despite ongoing market challenges.

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