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Global investments in crypto hit $1 billion in May, driven largely by Ethereum

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The research arm of Kucoin, a leading crypto exchange, released a Performance report on cryptocurrency for May, revealing that the industry witnessed an inflow of $1.02 billion in new investments.

The figure for investments in the crypto industry in May is slightly lower than that of April signifying a slight decrease.

The report highlighted that institutional investor focused on Ethereum and Ethereum Virtual machine (EVM) based projects during the study period.

1 billion global investment 

The Kucoin report revealed in detail that the crypto industry in May witnessed a public disclosure of about 156 investments. The total amounts invested in the 156 crypto projects total $1.02 billion.

The figure for May was $7 million short of April’s figure reflecting a slight decrease in total investment inflow in the industry.

Compared to May 2023, the number of crypto projects and the total financing amount in the industry increased.

This fact and the current new investment in the crypto industry reflect an Ongoing interest in the capital and developmental potential of the industry.

According to the report Over 50% of projects were financed within the range of $1 million to $10 million

The report further highlighted that Investors focused heavily on Ethereum, EVM chains, and layer 2 networks like Arbitrium and Polygon.

In the Non-Evm chain category investors focused heavily on Solana attracting the most investment in that category. Solana was closely followed by Bitcoin, Fantom, and Ton which made up the top 15 networks attracting investment in May.  

The investors and their focus 

Chinese investors lead globally in the number of investments in the crypto industry. Chinese institutions continue to invest in public chain networks and emerging technologies.

Chinese investment in the crypto sector is led by Animoca which participated in about 15 deals and OKX follows with investment in 11 projects. Other Chinese firms that made the top 10 list of investors include Cogitent Ventures, SNZ Holdings, DWF Labs, Polygon Ventures, MH Ventures, Haun Ventures, Waterdrip Capital, and GBV Capital.

The investors mainly focused on Meme coins, Celebrity tokens, low-market capitalization assets, and other emerging narratives.

Tokens with high valuations and limited supplies pushed investors to explore alternative options like Notcoin which was one of the leading assets invested in by investors in May.

What to know 

  • According to the report In May the total issuance of six traditional stablecoins decreased by $840million. According to Glassnode’s detailed data, USDT and PYUSD are on an upward trend, while USDC, DAI, and TUSD have declined. Stablecoins are crypto assets that have their value pegged to the price of the US dollar.
  • The report also noted that large crypto projects are beginning to up their security by introducing a complex system of checks known as Sybil screening measures.

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