Coinfeeds Daily → Crypto Investments Hit $1.02B in May, Ethereum Leads the Way

Crypto Investments Hit $1.02B in May, Ethereum Leads the Way

Published: Jun 17, 2024 | Last Updated: Jun 17, 2024
Howard Kane

Ethereum and EVM-based projects dominate, with Solana and other Non-EVM chains gaining traction. Active participation from Chinese investors highlights global interest.

In May, global investments in cryptocurrency reached an impressive $1.02 billion. This figure, although slightly lower than April's, highlights the continued interest and confidence in the crypto market.

Focus on Ethereum and EVM-Based Projects

The Kucoin report revealed that institutional investors are particularly interested in Ethereum and Ethereum Virtual Machine (EVM) based projects. Over half of the projects that received investments were in the range of $1 million to $10 million. This trend underscores Ethereum's dominance and the growing ecosystem around EVM-compatible projects.

Non-EVM Chains Gaining Traction

While Ethereum continues to attract significant attention, Solana led the Non-EVM chain category in securing investments. Following Solana, Bitcoin, Fantom, and Ton also saw substantial interest from investors. This diversification indicates that while Ethereum remains a strong player, other blockchain platforms are also gaining traction and proving their worth.

Active Participation from Chinese Investors

Chinese investors were the most active in the crypto investment space in May. Leading the charge were Animoca and OKX, both of which invested in a considerable number of projects. This active participation from Chinese investors highlights the global nature of the cryptocurrency market and the significant role that different regions play in its development.

Stablecoins See a Decrease in Issuance

Despite the overall positive investment trend, the report noted a decrease in the total issuance of six traditional stablecoins by $840 million. This decline could be attributed to various factors, including market volatility and regulatory scrutiny. Stablecoins, which are typically pegged to traditional currencies, are often seen as a safer investment within the volatile crypto market. However, the decrease in issuance suggests a shift in investor sentiment or strategy.

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