Data: VC funding in the crypto industry plummeted 74% month-over-month in April to $659 million, the lowest level in nearly two years.

According to Huoxun Finance, the cryptocurrency venture capital market cooled significantly in April, with total crypto VC funding falling to $659 million, completing 63 rounds. This represents a 74% decrease compared to March's $2.6 billion (84 rounds), marking the lowest monthly funding level since 2024. So far in 2026, the cumulative funding amount for the crypto industry is $5.64 billion. Since reaching a high of $3.84 billion in October 2025, crypto VC funding has continued to decline, with the global crypto market capitalization falling by approximately 37% during the same period. Among specific sectors, DeFi protocols led with 12 funding rounds, while blockchain services and AI-related crypto projects each completed 8 rounds. Market maker GSR's venture capital arm was the most active investor in April, participating in 4 funding rounds; Tether, Animoca Brands, and Coinbase Ventures each participated in 3 transactions.