Crypto venture capital (VC) funding has reached a two-year low, plummeting to $659 million in April. According to recent data, this represents a 74% drop from the previous month's total of $2.6 billion.
Despite this significant decline, year-to-date investments remain at $5.64 billion, suggesting that crypto projects are still attracting substantial funding. However, monthly VC funding has been trending downward since October 2025, when projects raised a record-breaking $3.84 billion across 127 rounds.
The shift towards a more selective phase of investing is reflected in the data. Investors are now backing fewer projects but providing larger checks to proven teams. This trend is also evident in the token-sale market, where just six ICOs have launched this year and half are currently trading below their offering price.