Hold onto your hats, crypto enthusiasts! October 2024 was a whirlwind for the crypto cosmos, as exchanges like Kraken led the charge in the financial sector's top deals. Money was flying left and right, with the industry raking in a staggering $1.76 billion—nearly double the previous month! This marks the highest fundraising frenzy since November 2023.
According to a recent report, there was a significant uptick in the number of deals, which skyrocketed by 25% from the last month, hitting a total of 282. October was sizzling hot with some jaw-dropping funding rounds. Praxis wowed us all with a $525 million haul, while Infinite, a multi-chain platform, snagged a cool $68 million.
Kraken made waves with a whopping grant of 25 million OP tokens, valued at around $100 million, courtesy of the Optimism Foundation. This move is part of Kraken's ambitious plan to launch a Layer 2 project called Ink using the snazzy OP Stack framework.
But wait, there's more! Azure Games scored $43 million, and Yellow Card, a rising star in the exchange game, pocketed $33 million. Early-stage deals weren't left out of the party, either. They grew by 18%, reaching $396 million, with Citrea, a decentralized finance project, and others joining the fun.
While the financial sector's crypto deals saw a tiny dip in volume, they made up for it with a 23% surge in deal count. Exchanges ruled the roost, with Kraken, Yellow Card, and Bitnomial among the top players. Meanwhile, the infrastructure sector had its moment, with deal volumes jumping by 73% to $92 million. Glow, a decentralized network, and GEODNET were among the standout players in this space.
All in all, October was a month of big moves and bold investments in the crypto world, showing that this digital frontier is as vibrant and dynamic as ever. Stay tuned, because who knows what November will bring!
