Crypto Projects Raise $1 Billion in May 2024

In May 2024, investments in crypto projects hit $1 billion, according to CryptoRank. Considering that some investment rounds remain undisclosed, the actual fundraising amount could reach between $1.3 and $1.5 billion.In the final month of spring, investment distribution by category was as follows:

• Blockchain Services: $219.5 million. This includes AI applications, crypto wallets, analytic web platforms, and decentralized domain name systems.
• Blockchain Infrastructure: $213.6 million. This category covered oracles, decentralized data storage tools, and staking providers.
• SocialFi: $194 million. Investments here bolstered the blockchain's social capabilities, including social media platforms, media holdings, and crypto encyclopedias.
• DeFi: $157.3 million. Funds flowed into projects that provide access to decentralized finance, such as DEXs, stablecoins, liquid staking platforms, and cross-chain bridges.

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