Chart of the Day
Doubling down. According to The Block’s research, there are twice as many crypto venture capital deals with valuations greater than $50 million in the first quarter of 2021 than all of 2020 combined.
The seven deals valued at over $100 million that were sealed in the first three months carry illustrious names in the industry such as BlockFi and NYDIG, which collectively pushed the average deal size from $5.7 million to $12.7 million. DeFi projects continue to be a popular verticle among investors, amounting to 26% of the private investment rounds that took place in Q1 2021.
Talk of the Town
Partyin’ like it’s 2018! Amid Ripple’s struggle with allegations from U.S. financial watchdogs, XRP clinched its best weekly performance in more than three years as the price of the token soared 118% over the past seven days. The jump could perhaps be attributed to a renewed wave of investors’ confidence inspired by key legal wins in the federal court.