Venture capitalists increased their investments into crypto projects by over 52% in March, spurred by a new all-time high for bitcoin and continued success from the spot bitcoin exchange-traded funds (ETFs). Investors allocated more than $1.16 billion into the industry in March, the second-highest amount in the past 12 months. The majority of the capital went into projects working on crypto infrastructure and decentralized finance (DeFi) projects, especially those built on the Ethereum blockchain, the data shows. The surge in fundraising comes as bitcoin reached a new all-time high of $73,798 on March 14.
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