when

CryptoRank presented a report on the state of venture capital funding in the industry for the first quarter. 
<a href="https://cryptorank.io/insights/reports/crypto-fundraising-report-Q1-24" target="_blank" rel="">Analysts said</a> investors have become more cautious, noting the divergence in Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="">BTC</a>) price with the number of rounds and funding volume. In the first three months, 422 rounds were conducted for $2.3 billion. 
<blockquote class="wp-block-quote"> 
 “This phenomenon underscores a growing trend wherein venture funds exercise greater caution and discernment in their crypto investments.” <cite>CryptoRank report</cite>
</blockquote> 
Only six projects attracted more than $50 million, while most deals were concluded in the $1 million to $10 million range, CryptoRank experts said. The current funding levels pale compared to historical data over the past four years and indicate a restrained investment activity level. 
Investor attention in the past quarter has been primarily focused on protocol changes, interoperability levels, and permanent decentralized exchanges (<a href="https://crypto.news/tag/dex/" target="_blank" rel="">DEXs</a>). In particular, the <a href="https://crypto.news/crypto-startup-eigenlayer-funding-vc-downturn/" target="_blank" rel="">EigenLayer</a> and Ether.fi protocols received investments of $100 million and $27 million, respectively. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14264370"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-09-at-17.49.48-1024x475.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="475" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-09-at-17.49.48-1024x475.png" alt="CryptoRank: Investors more cautious in supporting crypto projects - 22"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Source: CryptoRank
 </figcaption>
</figure> 
Crypto investors are cautiously optimistic, and the trajectory of further fundraising growth remains uncertain. CryptoRank concluded that the sustainability and resilience of the current market rally continue to be a matter of speculation and observation. 
Since the beginning of the year, the total capital inflow into crypto funds <a href="https://crypto.news/bitcoin-crypto-investment-inflows-record/" target="_blank" rel="">has reached</a> $13.8 billion, the highest level in history. CoinShares analysts said the latest record was from 2021 when $10.6 billion was received into products focused on cryptocurrencies. 
 You might also like: <a href="https://crypto.news/crypto-investments-surge-market-rebounds-q1/" rel=""> VC crypto investments surge as market rebounds, hits $2.5b in Q1 </a>

CryptoRank: Investors more cautious in supporting crypto projects

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