Cryptocurrency funding reached a record $3.5 billion across 28 transactions, driven by blockchain services. Bitcoin peaked at $126,000 and then plummeted, wiping out $20 billion in crypto liquidations. Pantera and Coinbase Ventures are leading the way as investor confidence in cryptocurrencies grows.
Cryptocurrency funding soared to an all-time high last week, with digital asset startups raising a record $3.5 billion across 28 funding rounds, according to Cryptorank data released on Monday.
This milestone surpassed the previous peak of approximately $3 billion recorded between July 28 and August 3, making it the strongest week on record for crypto venture activity.
The surge comes after seven consecutive weeks of less than $1 billion in funding, and signals a sharp return in investor confidence despite volatile market conditions.
Weekly funding has fluctuated widely over the past six months, from as low as $150 million to nearly $3 billion, highlighting the unpredictable nature of capital flows in the sector.
Blockchain services lead the way as sector activity expands
Blockchain services dominated the funding landscape last week, according to Cryptorank data.
Of the 28 funding rounds recorded from October 6th to 12th, 12 were for blockchain service providers, making it the most active category this week.
The Concentrated Finance (CeFi) project continued with six rounds, with the remaining deals spread across blockchain infrastructure, decentralized finance (DeFi), gaming, and social ventures.
This data suggests that investors are increasingly favoring service-oriented projects that support the broader cryptocurrency ecosystem, rather than narrowly focused tokens or speculative ventures.
Among the most active investors, Pantera Capital participated in four separate deals last week, two in blockchain services and one each in CeFi and social ventures.
However, over the past year, Coinbase Ventures has maintained its position as the most prolific investor in the space, with 73 investments across multiple categories.
Animoca Brands followed with 63 deals, followed by Binance-affiliated fund YZi Labs, which completed 38 deals. Amber Group and Andreessen Horowitz’s crypto accelerator (a16z CSX) rounded out the top five with 37 investments each.
Record funding coincides with new peak for Bitcoin
This record fundraising activity coincided with Bitcoin (BTC)’s all-time high of $126,000 on October 6, according to CoinGecko.
This rise is primarily due to the migration of assets from centralized exchanges to self-custody, institutional funds and digital asset treasuries, reflecting a long-term increase in confidence in the world’s largest cryptocurrency.
However, it turned out that the optimism did not last long. On Friday, US President Donald Trump announced 100% tariffs on China, causing a sudden drop across global markets, including digital assets.
Bitcoin’s price fell below $110,000 shortly after the announcement, and ultimately plummeted to $16,700, a 13.7% correction, within eight hours.
The crash also wiped out nearly 13% of open interest in Bitcoin futures, leading to approximately $20 billion in liquidations across the cryptocurrency market.
Decentralized perpetual exchange HyperLiquid reportedly led the wave of liquidations.
Investor confidence remains despite market shocks
Despite the sharp decline in crypto prices, analysts see this record fundraising week as a sign that investor appetite for blockchain and digital asset ventures is returning.
The timing, midway between Bitcoin’s all-time high and the largest single-day crash in market history, highlights both the sector’s volatility and its ability to attract large capital inflows.
The combination of new venture activity, sector diversification, and institutional investor participation suggests that investors remain focused on the long-term structural growth of the crypto economy, even as short-term market dynamics continue to fluctuate.
