Crypto VC funding hits $2.7B in Q2, Tron may be ‘most profitable blockchain’ — Finance Redefined

Crypto startup funding rose over 2.5% in Q2, and Tron could be on track to become the most profitable blockchain in terms of revenue, according to Justin Sun.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week.

This week brought renewed optimism for crypto investors after Pitchbook data revealed that crypto startup funding rose 2.5% to $2.7 billion in the second quarter of 2024 despite declining overall investment deals.

In the broader crypto space, the Tron network has surpassed the 90-day revenue of the Ethereum network, which could put it on track to surpass $2 billion in revenue by the end of 2024. According to Sun, this would make it the “most profitable blockchain on Earth.”

Crypto startup funding grows to $2.7 billion in Q2 despite fall in total deals

Crypto startups secured slightly more venture capital funding in the second quarter than in the first, despite a decrease in the total number of deals, according to data from Pitchbook. 

In an Aug. 9 report, Pitchbook said total capital invested increased 2.5%, but deals declined 12.5% compared to Q1.

Pitchbook said this could mean more promise from institutional investors in the market.

“With positive investor sentiment returning to crypto and barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year,” wrote Pitchbook.