According to The Block Pro fundraising data, VCs invested around $13.70 billion in cryptocurrency and blockchain startups in 2024, a 28% increase over the $10.70 billion deployed in 2023. However, funding is still well below the peak of $33.30 billion in 2022 and $29 billion in 2021. Dragonfly general partner Rob Hadick pointed out that while Bitcoin has rallied more than 150% year-to-date, the growth rate of venture capital has not been faster compared to 2023, likely because the LP market continues to remain relatively calm and most VC firms have not yet had the confidence to seriously deploy the remaining funds.