Cryptocurrency funding hits new weekly record of $3.5 billion

Cryptocurrency funding hit a new all-time high last week, with a record $3.5 billion raised across 28 funding rounds.

Cryptorank data from Monday showed that weekly funding reached its highest point in the week from October 6th to Sunday, surpassing all previous peaks, including the nearly $3 billion raised between July 28th and August 3rd. This surge follows seven consecutive weeks of funding activity below $1 billion, signaling a sharp recovery in investor confidence.

Over the past six months, weekly funding has ranged from $150 million to $2.9 billion, highlighting the volatility of venture capital activity in the cryptocurrency sector. October's sudden surge represents a significant breakout.

This record funding occurred as Bitcoin reached an all-time high of $126,000 on October 6th and before the massive liquidations that caused the cryptocurrency market to crash on Friday.

Weekly financing data. Source: Cryptorank

Blockchain Services Dominate Weekly Funding Rounds

Cryptorank data shows that blockchain services dominated funding activity last week. Of the 28 funding rounds recorded between October 6th and Sunday, 12 went to blockchain service providers, making it the most active sector.

Centralized finance (CeFi) projects followed closely behind with six rounds, while the remaining funding went to blockchain infrastructure, decentralized finance (DeFi), gaming, and social enterprises. This reflects a broader, services-driven trend within the cryptocurrency investment landscape.

Pantera Capital was the most active investor last week, participating in four deals: two in blockchain services and the others each in CeFi and social enterprises.

Over the past year, Coinbase Ventures remained the most active player overall, making 73 investments across a variety of sectors. Animoca Brands followed closely behind with 63 deals, while Binance-affiliated YZi Labs completed 38. Amber Group and Andreessen Horowitz's crypto accelerator (a16z CSX) each led the top tier with 37 deals.

Record Funding Between BTC Peak and Market Crash

The new weekly cryptocurrency funding record occurred between Bitcoin (BTC) reaching a new all-time high and the market experiencing one of its largest crashes in history.

According to Coingecko data, BTC reached a new all-time high of $126,000 on October 6.

BTC's new high was associated with the asset's shift from centralized exchanges to self-custody, institutional funds, and digital asset treasuries. However, the celebrations were short-lived.

On Friday, US President Donald Trump announced 100% tariffs on China, sending BTC prices below $110,000.

Bitcoin subsequently plummeted $16,700, a 13.7% correction in less than eight hours. The sharp drop to $105,000 wiped out 13% of open interest in Bitcoin futures.

The crash also resulted in nearly $20 billion in liquidations, led by decentralized perpetual exchange Hyperliquid.