Crypto VC April Cliff: Funding Plunges 74%

🔥 Crypto VC April “Cliff” Drops 74%: Winter Reshuffle or a New Cycle Begins?
In April, total crypto venture capital funding was only $659 million, down 74% from $2.6 billion in March on a month-over-month basis—hitting the lowest level since July 2024. Funding rounds also fell from 84 to 63, with YTD still totaling $5.64 billion.
Data snapshot: DeFi leads (12 rounds), while blockchain infrastructure and AI+Crypto each have 8 rounds. GSR is the most active (4 deals), followed closely by Tether, Animoca, and Coinbase Ventures.
This is not the end of the world—it’s a healthy liquidation:
① Total market cap is down about 37% from its October 2025 peak. VC risk appetite has contracted in step, bidding farewell to the era of overvaluation bubbles.
② Capital has shifted from “telling stories” to real demand, real products, and real revenue—good projects can earn more reasonable valuations even in the trough.
History repeatedly proves it: every bear-market funding ice point is the incubator for high-quality projects in the next bull cycle.
③ For founders & investors: don’t go all in on narratives—focus on building and traction. Only those who make it through will be the winners in 2027-2028.
Crypto has never been about getting rich overnight—it’s a game for cycle survivors. Will you choose to lie low, or accelerate through the downturn? See how it plays out in the comments! 💪$BTC ‌#Gate广场五月交易分享