According to Odaily, Robert Le, an analyst at Pitchbook, has indicated that the resurgence of publicly traded tokens and the continued adoption by institutions will drive an increase in venture capital. He further added that the competition in investment rounds is very intense, especially in the early stages. What's more complex is that the valuations of early deals are higher than those of later deals. He anticipates observing this trend over the next few quarters.
In addition, he predicts that as the market matures, there will be an increase in mergers within the cryptocurrency industry later this year, particularly among cryptocurrency exchanges, custodians, and infrastructure providers.
Previously, according to data from PitchBook, there was a significant increase in cryptocurrency financing in the first quarter of 2024. Startups raised $2.4 billion in 518 transactions. This represents a 40.3% increase in investment capital and a 44.7% increase in transaction volume compared to the previous quarter.
