In the first half of 2024, Web3 startup financing reached $3.70 billion, showing signs of recovery

According to the latest Crunchbase report, Web3 startups raised $3.70 billion in the first half of 2024. While this figure is down 18% from the first half of 2023, it is a significant increase of 42% from the second half of last year. On a quarterly basis, web3 startups raised more than $2 billion in the second quarter of 2024, a slight increase from the $1.80 billion raised in Quarter 1, but down 18% from the $2.20 billion raised in the same period last year. However, after eight consecutive quarters of decline, Web3 startups have raised funds for the second consecutive quarter. In addition, while the total amount of financing has increased, there are few large funding rounds. Only seven rounds have raised more than $50 million.