Crypto attracts $2.67B in funding during July, bolstered by Pumpfun and stablecoin interest
Crypto projects captured $2.67 billion in investments last month and is equivalent to 85% of money raised during the entire second quarter.
DefiLlama data shows that the funding amount in July is 6% larger than June, when crypto startups surpassed $2.5 billion by a small margin.
Additionally, July was the second-largest month in funding, bested only by March’s $3.5 billion. Pump.fun’s pre-sales contributed heavily to July’s numbers, as it attracted nearly $1 billion before its token generation event.
Treasuries shine
DefiLlama tracked investments into crypto-related companies under the category “Investments,” which received $512 million in funding.
BitMine raised $250 million to add Ethereum to its treasury, representing the largest amount in the “investments” category. Meanwhile, Upexi’s $200 million funding was the second-largest capital raise in the category, which was destined to add Solana to its holdings.
Together, both companies represented 88% of all funding in the “investments” category in July.
“Stablecoin infrastructure” also received significant attention from investors, with $352.5 million directed to projects in the segement.
Hong Kong-based OSL Group dominated the funding, gathering $300 million to boost its global expansion.
RD Technologies is another project from Hong Kong, which received $40 million to create regulated systems for stablecoins ranging from issuance to distribution.
DeFi strong even without Pump.fun
Despite Pump.fun adding a considerable amount to the “DeFi” category, projects developing products for the decentralized finance ecosystem raised $107 million. The amount is relatively substantial compared to other sectors.
Kuru received $11.6 million to develop a central limit order book (CLOB) based on the Monad infrastructure. At the same time, GAIB captured $10 million to create a decentralized economic layer to tokenize GPUs and their revenue stream.
Falcon Finance also received a two-digit funding, as World Liberty Financial backed the project with $10 million to build an overcolateralized stablecoin.
The last of the sectors that got at least $100 million in funding is “infrastructure.” Bitzero raised $25 million in a Series B funding round to support its mining operations.
Furthermore, xTAO received $22.8 million to continue its work of supporting and scaling the Bittensor ecosystem.
Soluna secured a two-digit investment, capturing $20 million to enhance operations, including Bitcoin mining with green energy.
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