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Berachain has emerged as a leading DeFi company in the past few quarters. Blockchain technology’s rapid evolution and advancement have lured global investors into supporting blockchain-backed companies.
Berachain, a DeFi-focused, EVM-compatible Layer 1 built on the Cosmos SDK and proof of liquidity consensus, raised $69 Million in funding. The funding round was co–led by Brevan Howard Digital and Framework Ventures.
A Bloomberg report states that the project is raising money by offering digital tokens, which will be valued at $1.5 Billion. In the past few years, a significant shift of interest has been seen in funding crypto.
The report further states that Berachain is the only company that secured unicorn states during the ongoing bull run. Other than co-led in funding, OKX ventures, Robot Ventures, Shima Capital, Hack VC, Tribe Capital, and Polychain, among others.
Other Major Funding Since January 2024
Since January 1, 2024, EigenLayer and Hashkey Group have only raised $100 Million. Optimism has secured $89 Million in funding, and Zama gathered $73 Million in a Series-A round.
Over this period, most projects that have received funding are based on the Ethereum blockchain. Portal, a DeFi project, has raised $34 Million in its seed funding round, followed by Ether(dot)Fi $27 Million.
The first quarter of 2024 is on the brink of being completed, and to date, over 351 founding rounds have occurred, and several companies collectively secured $2,005,891,315.
Investors Ranking Per Funding Rounds
OKX Ventures has invested in more than 32 companies in the past 180 days, and HashKey Capital has injected funds in 26 rounds. Big Brain Holdings and Foresight Ventures have participated in 22 funding rounds.
HashKey Capital has topped the list in making investments in the past 365 days as it is invested in 51 firms. Coinbase Ventures did not lock any major funding deals in YTD, but it has invested in 366 companies since its foundation.
Crypto Market Price Update
The fear and greed index of CoinMarketCap shows extreme greed, with 87 points, which might lead to bearishness in the market. The market capitalization of cryptocurrencies slips 6.47% over the past 24 hours.
Bitcoin, the market leader, marked a new all-time high at $73,750; the price failed to sustain higher for a longer time. As of writing, BTC was trading at $67,804, with an intraday decline of 6.83%.
According to several market analysts, the significant increase in the trading price in the past few days is due to the massive outflow from the Bitcoin ecosystem.
Similarly, the second most talked about cryptocurrency in the market has declined approximately 6.30% over the past 24 hours. Bitcoin SV tops the intraday loser list as its price slips 20.49%, Bonk (BONK) lost 16.26%, Injective (INJ) 16.26%, Mantle (MNT) 15.13% and Shiba Inu (SHIB) 13.36%.
Conflux (CFX) grew 8.02% in the past 24 hours, which makes it the leader of the past 24 hours gainers list, followed by Fetch.ai (FET) at 5.20%, Sei (SEI) at 3.27%, 0x Protocol (ZRX) at 3.17% and UNUS SED LEO (LEO) 1.59% including others.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
