Crypto attracts $2.67B in funding during July, bolstered by Pumpfun and stablecoin interest

In a remarkable surge, crypto projects amassed $2.67 billion in funding last month, accounting for 85% of the capital raised throughout the second quarter of the year.

According to data from DefiLlama, the investment total for July surpassed June’s figure by 6%, indicating a positive trend in the cryptocurrency space. Last month, the cumulative funding reached a level only surpassed by the robust $3.5 billion collected in March.

A significant contributor to July’s funding was Pump.fun, which generated nearly $1 billion in pre-sales prior to its token generation event.

Spotlight on Treasuries

DefiLlama’s analytics reveal that investments into crypto-related entities under the “Investments” category garnered $512 million during the month.

Leading the charge was BitMine, which raised $250 million to acquire Ethereum as part of its treasury strategy. Following closely was Upexi, securing $200 million for enhancing its Solana reserves.

Together, these two companies accounted for a staggering 88% of all funding in the “Investments” segment throughout July.

Another area attracting interest was “stablecoin infrastructure,” which drew $352.5 million from investors.

OSL Group, based in Hong Kong, emerged as a leader in this category, securing $300 million to bolster its international expansion efforts.

Another notable venture from Hong Kong, RD Technologies, received $40 million to develop regulated frameworks for stablecoins, focusing on their issuance and distribution.

DeFi Resilience Without Pump.fun

Even without the considerable boost from Pump.fun, the decentralized finance (DeFi) sector exhibited strength, raising $107 million through various projects dedicated to DeFi innovations.

For instance, Kuru secured $11.6 million aimed at developing a central limit order book (CLOB) founded on Monad’s infrastructure. Likewise, GAIB attracted $10 million to establish a decentralized economic layer for tokenizing GPUs and their associated revenue streams.

Falcon Finance also made headlines by receiving a $10 million investment from World Liberty Financial to develop an overcollateralized stablecoin.

In the realm of infrastructure funding, Bitzero raised $25 million in a Series B round to bolster its mining activities.

Additionally, xTAO managed to gather $22.8 million to further enhance its efforts in supporting and scaling the Bittensor ecosystem. Soluna rounded out the sector with a $20 million investment aimed at advancing its operations, which include Bitcoin mining utilizing environmentally-friendly energy sources.

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