Crypto Projects Raise $800 Million in December 2023
In the first three weeks of December 2023, crypto projects have raised almost $800 million in investments, and the total could reach $1 billion by the end of the year.
As reported by the analytical resource Cryptorank, some funding rounds and the amounts invested remain undisclosed, indicating that the total investment figure likely exceeds $1 billion.
Concerning specific cryptocurrency funds, OKX Ventures was the most frequent investor, participating in 5 rounds. Polygon Ventures, NGC Ventures, DWF Labs, 1kx, Polychain Capital, Framework Ventures, and Sora Ventures each carried out 4 investment rounds.
Understanding these investment trends sheds light on both market dynamics and the crypto industry's growth direction. This article elaborates on the latest investment activities to identify useful trends beneficial for crypto engagements.
In total, this accounts for 56 rounds with disclosed investment amounts. The specific investment sums for 24 rounds remain undisclosed.
General Information
Throughout the three weeks of December 2023, various cryptocurrency projects cumulatively attracted $796 million. These investments were gathered across 90 funding rounds, with the following distribution of investment amounts:
- Less than $1 million in 7 rounds;
- Between $1 and $3 million in 19 rounds;
- Between $3 and $10 million in 16 rounds;
- Between $10 and $20 million in 7 rounds;
- Between $20 and $50 million in 4 rounds;
- Over $50 million in 3 rounds.
The most significant investments were in Blockchain Services (24 instances), followed by DeFi projects (16), individual blockchains and networks (14), GameFi (8), SocialFi (8), centralized exchanges (6), blockchain infrastructure projects (5), NFTs (3), and one meme project.
Investment Statistics for Crypto Projects in December 2023 (cryptorank.io)
The only meme project to receive funding was the FLOKI token, already trading on cryptocurrency exchanges. The project closed its latest round with $1.25 million, led by DWF Labs.
Top crypto projects by investment in December:
- $165 million – Swan Bitcoin (CeFi);
- $140 million – Line Next (NFT);
- $100 million – MapleStory Universe (GameFi);
- $48 million – Andalusia Labs (Blockchain Infrastructure).
Crypto Funds Investing in Projects During December 2023 (cryptorank.io)
Geographically, the investment distribution in crypto projects is as follows:
- USA – $288 million;
- South Korea – $140 million;
- United Kingdom – $37 million;
- China – $25 million;
- Israel – $17 million;
- Argentina – $15 million;
- Unknown locations – $253 million.
Geographical Distribution of Investments in December 2023 (cryptorank.io)
Applying Investment Data
There are several key insights that can be derived from the volume, number, and variety of investments in cryptocurrency projects:
- The type of cryptocurrency projects receiving investments can indicate the future potential of these protocols and applications. If a project attracts a substantial amount of funding, it signals strong investor interest, which could mean promising outcomes for general users in the future.
- The overall volume of investments reflects the dynamics of the cryptocurrency market. A high total investment amount suggests a vibrant and possibly expanding market.
- When an existing crypto project, already trading on exchanges for some time, secures additional investments, it indicates the team's ongoing activity and commitment to further develop the project. This approach of seeking additional funds, rather than selling off their own tokens and potentially driving down the price, suggests a strategic choice for growth and sustainability.
