By March 2026, the total funding for cryptocurrencies is expected to grow at an annual rate of 50%, but the number of transactions has decreased by 46%, as funds are concentrated in a few larger funding rounds. The three deals in February—Tether's $200 million investment in Whop, Novig's $75 million Series B funding, and ARQ's $70 million Series B funding—accounted for 44% of the nearly $800 million total funding for the month. Messari pointed out that currently, venture capital funding is scarce; aside from Dragonfly Capital raising $650 million, few large companies have completed new fundraises, indicating that despite active investors like Coinbase Ventures, the cryptocurrency industry still needs new capital.