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Messari: Crypto industry financing in October increased by 96% month-on-month to US$1.76 billion, the highest since November 2023

According to a recent report by Messari, in October 2024, the total financing amount of the cryptocurrency industry increased by 96% compared to the previous month, reaching $1.76 billion, the highest point since November 2023.

The report shows that the number of transactions in October increased by 25% compared to the previous month, with a total of 282 transactions. Several large financings contributed to the strong performance in October, including Praxis' $525 million financing and multi-chain platform Infinite's $68 million financing.

In addition, Kraken received 25 million OP grants from the Optimism Foundation, which was worth about $100 million when the transaction was completed earlier this year. Kraken plans to launch a Layer 2 called Ink as part of the OP Stack framework using the Optimism blockchain.

Other notable transactions include Azure Games' $43 million financing and cryptocurrency trading platform Yellow Card's $33 million financing.

In October 2024, the initial stage financing amount of the cryptocurrency industry increased by 18% compared to the previous month, reaching $396 million. In addition, the number of transactions for this specific group increased by about 13% compared to the previous month, with 72 transactions. This includes Azra Games' $43 million financing, Nillion Network's $25 million financing, and DeFi project Citrea's $14 million financing.

The financing amount of cryptocurrency in the financial sector decreased by about 2% compared to the previous month, reaching $259 million, while the number of transactions increased by 23% to 92.

The financing amount in the infrastructure sector increased significantly, with a month-on-month increase of 73% to $92 million, while the number of transactions decreased by 8% to 24.

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