Story Protocol Is on The Front with $80M

August 2024 reportedly has been a very busy and important month as many significant fundraising events happened last month. An on-chain crypto analytical firm shared the stats of top fundraising projects of August 2024 through the X platform.

Many prominent crypto platforms took part in the fundraising round where investors entrusted those crypto platforms with a large sum. Story Protocol is at the top of these fundraising projects with $80 million in funds. Additionally, many other crypto firms like Arch Lending, Morpho, Sahara AI, Bridge, and many others were part of this fundraising project.

Story Protocol and Arch Lending Secure a Large Sum of Funds

Story Protocol leads the fundraising events as it raised $80 million in funds with the support of significant venture capital firms like Polychain Capital and a16zcrypto. After Story Protocol, Arch Lending secures the second position with major funds of $70 million with the prominent support of Galaxy. These massive fundraising events signify investors’ trust and vision set in decentralized finance (DeFi) and the enthusiasm of the crypto community for the DeFi space.

Crypto Sector Continues to Attract Major Investments

As the crypto community is evolving day by day, investors are taking a keen interest in the crypto space to yield profits and explore the world of cryptocurrencies. The last fundraising events are the proof of growing demand for DeFi as many significant investors supported the crypto projects.

Chaos Labs, known for its expertise in DeFi protocols secured $55M in funds from prominent figures of the crypto space like PayPal and Coinbase Ventures. Additionally, Sahara AI and Bridge secured $37M and $58M in funds from multiple investors.