Messari: Crypto industry funding rose 96% month-on-month to $1.76 billion in October, the highest since November 2023

According to a recent report published by Messari, in October 2024, the total amount of funding in the crypto industry increased by 96% month-on-month to $1.76 billion, the highest since November 2023.
According to the report, the number of deals in October increased by 25% compared to the previous month, totaling 282 transactions. Several large funding rounds contributed to the strong performance in October, including $525 million from Praxis and $68 million from multi-chain platform Infinite.
It also includes 25 million OP grants Kraken received from the Optimism Foundation, worth about $100 million at the time of the deal earlier this year, as part of Kraken's plan to launch Layer 2 called Ink using the Optimism blockchain's OP Stack framework.
Other notable deals include Azure Games raising $43 million and cryptocurrency trading platform Yellow Card raising $33 million.
In October 2024, the amount of initial stage funding in the crypto industry increased by 18% month-on-month to $396 million. In addition, the number of transactions in this particular group was 72, an increase of about 13% compared to the previous month. These include $43 million funding from Azra Games, $25 million funding from Nillion Network, and $14 million funding from Citrea, a DeFi project.
The amount of cryptocurrency funding in the financial sector fell by about 2% month-on-month to $259 million, and the number of transactions increased by 23% to 92.
Funding in the infrastructure sector increased significantly, rising 73% sequentially to $92 million, while the number of deals fell 8% to 24.