Published on juli 27, 2024, 12:28 am
Image source: Fox News
```json [ { "TLDR": "Galaxy launched a $113 million crypto fund alongside the first spot Ether ETFs in the US. Nansen introduced an Ether ETF analytics dashboard. Venture capitalist interest in Web3 is rising, with Galaxy Ventures Fund I LP raising funds for early-stage crypto startups. Nansen's dashboard provides real-time insights. Crypto funding is stabilizing for Web3 startups. Ethereum co-founder Vitalik Buterin unveiled Circle STARKs to enhance blockchain security and efficiency. Most major cryptocurrencies saw positive growth, with 'cat in a dogs world' (MEW) and Helium (HNT) as top gainers." } ] ```
Galaxy recently made headlines by launching a $113 million crypto fund concurrently with the debut of the first spot Ether ETFs in the US. This marked a significant moment in the industry. Additionally, Nansen introduced the industry’s premier Ether ETF analytics dashboard, enhancing transparency regarding institutional inflows.
Moreover, venture capitalist interest in Web3 is resurging as institutional investors show keen interest in identifying promising blockchain startups. Galaxy Asset Management’s successful raise of $113 million for a new crypto venture fund reflects the increasing capital flowing into cryptocurrency projects focusing on novel use cases.
Billionaire Michael Novogratz is leading this new initiative, which aims to invest primarily in early-stage crypto startups dedicated to cryptocurrency software, infrastructure, and financial applications. The Galaxy Ventures Fund I LP plans to support 30 companies initially and aims to reach its $150 million target by 2025.
Nansen’s Ether ETF analytics dashboard provides traders with real-time insights on US-based spot Ether ETF performance, including interactive flow charts and total issuer balances. This unveiling aligns with the approval of Ether ETFs that herald a significant milestone for the industry according to Nansen CEO Alex Svanevik.
In addition to these developments, funding for Web3 startups is stabilizing after a previous decline. Crypto ventures secured approximately $2 billion in financing during Q2 of 2024, slightly exceeding the prior quarter’s funding amounts. Despite this improvement in funding levels, deal volume remains subdued compared to previous years.
Furthermore, Ethereum co-founder Vitalik Buterin unveiled Circle STARKs – an innovative cryptographic protocol intended to enhance blockchain security and efficiency significantly. By utilizing smaller fields like Mersenne31, Buterin aims to bolster proving speed while ensuring top-notch security measures are maintained.
Lastly, recent movements within the crypto space reveal that most of the largest cryptocurrencies observed positive growth during the week. Notably, Solana-based memecoin ‘cat in a dogs world’ (MEW) emerged as one of this week’s biggest gainers alongside Helium (HNT) token.
Cryptocurrency enthusiasts are encouraged to stay informed about these impactful developments shaping the DeFi landscape as it dynamically evolves towards future advancements and opportunities within this burgeoning industry.
Original article posted by Fox News
