Crypto venture funding hits $860 million in October, highest in over 6 months Investments 43 seconds ago

Venture capital (VC) funds invested $860 million in crypto startups last month, a 30% leap from the amount registered in September and the highest since April’s $954 million earlier in the year, according to DefiLlama data.Investments in the blockchain gaming sector surpassed $110 million, growing for the third consecutive month by showing a significant 75% leap between September and October. The mobile gaming studio Azra Games conducted the largest funding round in this sector, receiving $42.7 million from Pantera Capital, a16z Crypto, and NFX.Infrastructure solutions secured the most prominent VC investments, with $609 million in venture money pouring into the sector, up 33% from September.Bitcoin-focused infrastructure provider Blockstream received $210 million from Fulgur Ventures, the largest funding round in this sector by a substantial margin.Yellow Card, a startup building on and off-ramping solutions for African users, received the second largest investment among infrastructure startups, with $33 million captured in a Series C round.Glow Labs, a firm using blockchain to create a community-powered platform to drive solar energy adoption, secured $30 million in the third largest infrastructure-related funding round.The DeFi sector saw a recovery in funding after experiencing a 55% decline in funding between August and September, securing $98 million in funding for the month.Solv, a platform for Bitcoin staking, raised $11 million from Laser Digital, Blockchain Capital, and OKX Ventures in October’s most significant DeFi funding round. Variational raised a similar amount to build its decentralized derivatives platform, with Bain Capital Crypto and Peak XV Partners allocating $10.3 million in a seed round.Gino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Follow us on X for instant crypto news and insights updates.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.