RootData

According to RootData's financing data statistics, in June 2026, the crypto primary market disclosed a total of 42 financing and merger events, with a total financing amount of approximately $898 million, a month-on-month decrease of 60.5% and a year-on-year decrease of 67.3%. Additionally, there were 15 merger events, with a disclosed amount of approximately $305 million. Overall, funds continue to concentrate on infrastructure, DeFi, and CeFi, with institutional-level capital markets, on-chain credit, derivatives trading, and stablecoin payment/settlement becoming the main incremental directions.DeFi was the most active sector this month, completing 18 financing and merger events, with a disclosed amount of approximately $330 million. Morpho completed a $175 million financing, becoming the largest financing project in the DeFi sector this month; Fomo completed a $75 million Series B financing, indicating that on-chain trading and consumer-level entry points still have appeal.The infrastructure sector had a total of 13 events, with a disclosed amount of approximately $453 million, ranking first in terms of amount. Projects such as Digital Asset, Ornn, and Trace Finance received funding support around institutional-level capital markets, AI computing financialization, and stablecoin settlement infrastructure.CeFi completed a total of 12 events. Although there were not many non-merger financing events, mergers and institutional trading services performed outstandingly. SBI Holdings acquired the Japanese crypto exchange Bitbank for approximately $289 million, becoming the largest merger event this month; SignalPlus completed a $50 million Series B1 financing, and EDGE Markets completed a $29.2 million Series A financing, indicating that institutional-level trading, derivatives, and compliant financial services are still key areas for capital allocation.The top five projects this month totaled approximately $944 million, accounting for about 76% of the overall disclosed scale. The top three projects in terms of financing and merger amounts are: institutional-level blockchain infrastructure company [Digital Asset](https://www.rootdata.com/zh/Projects/detail/Digital Asset?k=MzYyMA== "Blockchain software and service provider") ($355 million), Japanese crypto exchange Bitbank ($289 million, merger), and on-chain credit protocol Morpho ($175 million).In terms of investment institutions, Coinbase Ventures, a16z, Pantera Capital, CoinFund, Paradigm, Animoca Brands, HashKey Capital, and others remain active, with top capital more inclined to bet on projects with clear institutional clients, compliance paths, and real use cases.

According to statistics from the tokenized asset data platform RootData, the total disclosed financing amount in the crypto primary market in May 2026 is approximately $2.21 billion, with a total of 62 financing events disclosed. In terms of the distribution of financing tracks, market funds are still mainly flowing into DeFi, infrastructure, and CeFi, while institutional attention on trading, payment, compliance, and institutional-level services continues to increase.DeFi has become the most active track this month, completing 26 financing events, covering areas such as stablecoins, liquidity protocols, on-chain trading, and yield strategies; the infrastructure track ranks second with 18 financing events, as capital continues to bet on underlying technologies, AI+Crypto, middleware, and on-chain scalability; CeFi has completed 12 financing events, although the number of events is less than DeFi, it performs outstandingly in terms of financing amount, with significant increases in large strategic financing.The top three projects by financing amount are: the parent company of the South Korean exchange Dunamu ($667 million), payment infrastructure project Reap ($600 million, acquisition), and institutional-level stablecoin infrastructure Arc ($222 million). In addition, the prediction market platform Kalshi ($200 million) and on-chain compliance company Elliptic ($120 million) also received significant financing. The top five financing projects this month totaled over $1.9 billion, accounting for about 85% of the overall disclosed financing scale.In May, multiple high-value financings were concentrated in the fields of exchanges, payment infrastructure, prediction markets, and on-chain compliance analysis. In particular, projects related to trading and institutional services such as Gemini, Coincheck, SignalPlus, Variational received financing, indicating that the market is positioning itself around the next phase of incremental funds and institutional demand.In terms of investment institutions, Kraken, Paradigm, Sequoia Capital, Coinbase Ventures, Dragonfly, HashKey Capital continue to remain active, with top capital preferring to bet on projects with clear business models and institutional service capabilities. Overall, the financing market in May shows a trend of gradually returning from high narrative-driven to infrastructure, financial services, and real demand scenarios.