Weekly Crypto News and Venture Deal Summary: May 6, 2024

Weekly Crypto News and Venture Deal Summary: May 6, 2024

Blockchain Networks:

Sui Network Surpasses Solana in Daily Transactions: #SuiNetwork has overtaken Solana in daily transactions. However, doubts have arisen due to the launch of the SPAM token on Sui, which incentivizes users to conduct transactions, leading to skepticism about the authenticity of these numbers. Despite having only 60,000 active wallets compared to Solana’s 1.1 million, Sui’s Total Value Locked (TVL) has surged by over 120% this month.

Bitcoin Achieves One Billion Transactions Milestone: Bitcoin’s blockchain has reached its one billionth transaction, a monumental achievement 15 years since its inception. This milestone was confirmed in block 842,241. With an average of 178,475 transactions daily, #Bitcoin continues to establish itself as a leading force in the crypto space.

Vodafone to Integrate Crypto Wallets into SIM Cards: #Vodafone plans to integrate blockchain technology into mobile phones by embedding crypto wallets into SIM cards. By leveraging cryptographic capabilities, Vodafone’s innovation aims to enable secure, autonomous transactions for vehicles, devices, and machines.

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Key Venture Deals:

Mitosis Raises $7M for Modular Liquidity Protocol: #Mitosis secured $7 million in funding to develop its modular liquidity protocol, led by Amber Group and Foresight Ventures. The ecosystem, consisting of Layer 1 and Vaults, aims to redefine liquidity management across multiple networks.

**X10 Raises $6.5M for Hybrid Crypto Exchange: ** #X10 a hybrid exchange, raised $6.5 million to combine CeFi and DeFi advantages. With a focus on transparency and security through on-chain validation, X10 aims to provide a holistic trading experience.

Holograph Secures $3M to Expand Omnichain Gaming: #Holograph raised $3 million to enhance its protocol for gaming and asset distribution across chains. This funding will support game studios in launching assets on multiple #Ethereum Virtual Machine chains.

Weekly Venture Deal Insights:

• 25 deals closed last week.
• Infra sector leads with 13 deals (52% of total).
• Total funding raised: $141.5M, with Infra raising $86.8M (61% of total).
• Weekly fundraising remained steady, up 112.5% YoY.

Stay tuned for more updates in the crypto venture space.

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