Back to the list

62 Crypto Projects Raise $474M in 20 Days, Led by Sophon and Securitize

source-logo  news.bitcoin.com 21 May 2024 07:34, UTC

According to the latest data, 62 blockchain or cryptocurrency projects have collectively raised $474 million over the past 20 days of May. Leading the charge, the entertainment-focused blockchain project Sophon garnered $60 million in a node sale, with Securitize following closely, raising $47 million.

May Sees $474M Invested in Blockchain Startups

Since the start of May, $474.08 million has been invested in blockchain and crypto startups and projects. Among these, 62 projects secured funding, including four Bitcoin ecosystem projects, which collectively raised nearly $20 million. Botanix Labs led this group with $8.5 million, followed by Arch Network with $7 million, Zest with $3.5 million, and Bitsmiley with $999,600, data from crypto-fundraising.info shows.

In the alternative blockchain ecosystems, the top five projects were Sophon ($60M), Securitize ($47M), Polymarket ($45M), Humanity Protocol ($30M), and Arbelos Markets ($28M). Sophon, an entertainment network built on Ethereum, conducted a node sale, offering a limited number of ‘node licenses.’ These licenses enable participants to run nodes on the network and earn a share of Sophon’s future token emissions.

Securitize, a startup that has developed a blockchain platform for issuing and managing digital asset securities compliantly, raised funds from Blackrock, Morgan Stanley Tactical Value, Sumitomo Mitsui Trust Bank, IDC Ventures, Ava Labs, Global Brain, and Borderless Capital. The projects that ranked below the top five but still within the top ten included Peaq ($19.98M), Lagrange ($13.5M), Seed Labs ($12M), Lava Network ($11M), Galaxis ($10M), and Kiosk ($10M).

Other notable projects in terms of funding this month were Owito Finance ($8M), UXUY ($7M), Re ($7M), EYWA ($7M), Mitosis ($7M), Arch Network ($7M), Param Labs ($7M), Shogun ($6.9M), Chainml ($6.2M), Chainstack ($6M), and Starnest ($6M). In addition to Bitsmiley, three other Bitcoin-centric projects raised less than $1 million: Multipool secured $650,000, Engines of Fury obtained $550,000, and Lifeform raised $450,000.

What do you think about the projects that raised $474.08 million in May? Share your thoughts and opinions about this subject in the comments section below.