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Interest In Altcoin Projects From Venture Capitalists Is On The Rise.

The surge in Bitcoin and altcoin markets has reignited the investment appetite of venture capitalists after a long period.

Since March 2022, venture capital investments in crypto ventures have seen a surge, reaching $1.9 billion in the fourth quarter of 2023, marking a 2.5% increase compared to the previous quarter, according to a recent report by PitchBook. This increase coincided with a renewed interest in crypto ventures following the approval of Bitcoin exchange-traded funds (ETFs).

In February, several crypto startups such as Lava Protocol, Analog, Helika, Truflation, and Omega announced successful fundraising efforts. Over the past two weeks, venture capital firm Andreessen Horowitz revealed a $100 million investment in Ethereum's restructuring protocol EigenLayer. Similarly, Binance Labs invested in the liquid restructuring service Renzo.

Founders Fund and Dragonfly provided an additional $27 million in a seed funding round for Avail, while Hack VC raised $150 million to focus on early-stage crypto and artificial intelligence ventures. Cointelegraph summarized some projects that secured funding in February.

Taiko, an Ethereum layer 2 scaling solution, completed a $15 million Series A funding round ahead of its mainnet launch. Led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, with participation from previous investors like Wintermute Ventures, Amber Group, and OKX Ventures, the round aimed to establish a decentralized layer 2 architecture and raised a total of $37 million so far.

Singularity raised $2.2 million in a round led by Gumi Cryptos Capital. The protocol aims to provide compatibility with DeFi applications and offer on-chain transaction privacy, with investors including Nomura's subsidiary Laser Digital and Eureka Partners.

AltLayer secured $14.4 million in strategic funding led by Polychain Capital and Hack VC. The platform enables developers to launch rollups and claims to have developed a restructured rollup framework outside of Ethereum, allowing staking on Bitcoin.

PredX, an artificial intelligence-based prediction platform, announced that it has raised $500,000 in a pre-seed funding round, reaching a valuation of $20 million. This round was conducted with the support of Malana Ventures and led by Penrose Tech. Developed with the support of the SEI chain, PredX offers users the opportunity to make predictions on current issues such as political elections and trade shares based on the likelihood of events occurring. The platform uses blockchain technology to store transaction records while integrating artificial intelligence to personalize the user experience and perform extensive data analyses on topics such as cryptocurrencies, technology, and celebrities. Moreover, PredX has filed for patents for two artificial intelligence algorithms and plans to launch its testnet soon in line with its plans to support the Ethereum Virtual Machine (EVM) ecosystem.

Ouinex, a digital asset trading platform, announced that it has raised over $4 million through seed and first private financing rounds. This financing was entirely provided by individuals from the traditional finance sector who are part of the Ouinex trader community. Founded in 2022 by former traditional finance executives, the venture aims to use the funds to enhance the features of its platform and obtain additional regulatory licenses. Ilies Larbi, CEO of Ouinex, stated that the platform's user-centric approach sees community members not just as investors and users but as active participants who play a role in shaping the future of Ouinex.

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