The research arm of Kucoin, a leading crypto exchange, disclosed a Performance report on cryptocurrency for May, showing that new investments totaling $1.02 billion were made in the market.
The figure indicates a modest decline, showing the amount invested in the cryptocurrency market in May is marginally less than in April.
According to the report, the institutional investors prioritized initiatives based on Ethereum and Ethereum Virtual Machines (EVMs).
In addition, the analysis revealed that the crypto industry in May witnessed a public disclosure of about 156 investments.
It is reported that the figure for May was $7 million short of April’s figure reflecting a slight decrease in total investment inflow in the industry.
Both the total amount of finance in the business and the number of crypto ventures rised from May 2023.
The report states that more than half of the projects received funding between $1 million and $10 million.
The report underlined that investors’ attention was mostly drawn to Ethereum, EVM chains, and layer 2 networks such as Polygon and Arbitrium.
