Galaxy: The top seven deals accounted for nearly half of Q3 investment activity, suggesting the golden age of pre-seed round investing may be over.

 Galaxy Digital research report pointed out that in the third quarter of this year, seven large transactions raised more than $2.26 billion, accounting for 48.7% of the total venture capital investment in cryptocurrency and blockchain-related companies during the same period.

During this period, venture capital firms invested $4.65 billion in 415 transactions in startups and private companies focused on cryptocurrency, a quarter-on-quarter increase of 290%, but still below the levels of 2021-2022. The growth was mainly driven by late-stage companies, indicating that capital continues to concentrate on mature companies rather than early-stage startups.

Although market sentiment is improving and investment activity is increasing, Galaxy Digital believes that "the golden age of pre-seed cryptocurrency venture capital has passed."