In a new report, PitchBook reveals that crypto venture capital spending continues to remain low at the end of 2024. Deal value jumped to $2.40 billion in the final quarter of 2024, up 13.6% from the third quarter, but the number of deals fell from 411 to 351. While the rebound in funding suggests investors remain willing to back established teams and differentiated technologies, the continued pullback in deal numbers highlights the growing selectivity of investors, PitchBook says, and reflects "founders of more established companies are shifting to smaller but strategically focused funding rounds rather than pursuing the large-ticket rounds that have been common in the past".