Galaxy: In the third quarter, the first seven transactions accounted for nearly half of the investment activities, and the golden age of pre-seed investment may have ended

According to a report by The Defiant, Galaxy Digital's research indicates that in the third quarter of this year, seven large transactions raised over $2.26 billion, accounting for 48.7% of the total venture capital for cryptocurrency and blockchain-related companies during the same period.

During this time, venture capital firms invested $4.65 billion in cryptocurrency-focused startups and private companies through 415 transactions, a quarter-over-quarter increase of 290%, but still below the levels of 2021-2022. The growth was primarily driven by later-stage companies, indicating that capital continues to concentrate on mature companies rather than early-stage startups.

Despite improving market sentiment and increasing investment activity, Galaxy Digital believes that "the golden age of pre-seed cryptocurrency venture capital has passed."