A research report by Galaxy Digital indicates that venture capital funding in the cryptocurrency sector during the third quarter was heavily concentrated in a few major deals. Seven large transactions raised over $2.26 billion, accounting for 48.7% of the total capital invested in crypto and blockchain companies during the period.
Despite an improvement in overall market sentiment, the report suggests that the "Golden Age" of pre-seed cryptocurrency venture capital has passed. The data reflects a maturing market where capital is increasingly flowing toward established entities rather than early-stage projects.