加密筹款H1峰：成功关闭表示看涨转弯

加密筹款活动正经历着后期交易和既定平台的驱动。这是加密资金的新时代的开始吗？

The crypto fundraising scene is heating up! After a slow start, the first half of 2025 is poised to end on a high note, with successful closings and a renewed sense of optimism. Let's dive into what's driving this resurgence and what it means for the future of crypto.

加密筹款场景正在升温！开局缓慢后，2025年的上半年有望以高调结束，并成功结束并带来了新的乐观感。让我们深入了解驱动这种复兴的原因以及它对加密货币的未来意味着什么。

VC Funding Reaches New Heights

风险投资达到新高度

Crypto VC funding is back to levels not seen since 2022. June alone saw over $4.49B raised across 103 rounds, potentially exceeding even that number as more deals are finalized. While we're not quite at the peak of the 2021 Web3 boom ($6.88B in November!), the trend is definitely pointing upwards.

加密风险投资的资金又回到了自2022年以来未见的水平。仅六月就看到了超过4.49b的103轮筹集的$ 4.49B，随着越来越多的交易被敲定，甚至可能超过该数字。虽然我们还不是2021 Web3繁荣的顶峰（11月11日$ 6.88B！），但这种趋势肯定是指上升的。

The Shift to Late-Stage Deals

转向晚期交易

There's a clear shift happening in the type of deals being funded. Forget the days of simply launching a project and selling tokens to exchanges. Investors are now focusing on established platforms with proven use cases and signs of growth. Late-stage financing and large-scale private rounds are the name of the game. Projects like EigenCloud, which raised $70M in a late-stage round, exemplify this trend.

资助的交易类型发生了明显的转变。忘了简单地启动项目并将令牌出售给交流的日子。现在，投资者专注于具有良好用例和增长迹象的既定平台。后期融资和大规模私人回合是游戏的名称。像Eigencloud这样的项目在后期筹集了7000万美元，体现了这一趋势。

Who's Leading the Charge?

谁领导了指控？

Coinbase Ventures and Pantera Capital are leading the pack, with nine and six deals respectively. While the majority of deals are happening internationally, the US is still a major player, accounting for the largest funding amounts ($1.79B in June). Singapore-based projects also saw significant investment, raising $1.09B.

Coinbase Ventures和Pantera Capital正在领导这一领先，分别达到了九笔和六笔交易。尽管大多数交易在国际上发生，但美国仍然是主要参与者，占最大资金金额（6月的1.79B美元）。总部位于新加坡的项目还看到了巨大的投资，筹集了1.09B美元。

Token Sales Make a Comeback

代币销售卷土重来

Don't count out token sales just yet! They're making a strong comeback, with token sales raising consistently over $4B monthly. In June, 174 sales raised $4.79B, surpassing even the large VC rounds. Platforms like Binance Wallet and PancakeSwap are driving this trend, offering projects access to a large pool of potential buyers. Projects launching on Binance Wallet saw average gains of 483%, while PancakeSwap projects achieved 228.5%.

不要算出代币的销售！他们正在卷土重来，代币销售额每月持续筹集超过4B美元。 174年6月，销售额筹集了4.79b美元，甚至超过了大型风险投资回合。 Binance Wallet和Pancakeswap等平台正在推动这一趋势，为项目提供了大量潜在买家的访问。在Binance Wallet上发起的项目平均增长率为483％，而PancakesWap项目的平均收益率为228.5％。

Established Use Cases Drive Investment

已建立的用例推动投资

VC deals are no longer driven by hype, but by tangible metrics. Transactions, fees, and liquidity are key indicators of a project's potential. Investors are looking for platforms with established use cases and real-world traction. This is a welcome change from the speculative frenzy of previous cycles.

VC交易不再由炒作驱动，而是由有形的指标驱动。交易，费用和流动性是项目潜力的关键指标。投资者正在寻找具有既定用例和现实牵引力的平台。这与以前的周期的投机性疯狂相比，这是一个可喜的变化。

My Take: A More Mature Crypto Market

我的看法：一个更成熟的加密市场

The shift towards late-stage deals and established platforms signals a maturing crypto market. Investors are becoming more discerning, focusing on projects with real potential and sustainable business models. This is good news for the long-term health of the industry. I think this also signals that even though the market is maturing, there are still many opportunities for small projects to get funding via token sales if they utilize platforms like Binance Wallet and Pancakeswap.

向后期交易的转变和建立的平台标志着一个成熟的加密市场。投资者变得越来越敏锐，专注于具有真正潜在和可持续商业模式的项目。对于该行业的长期健康而言，这是个好消息。我认为这也表明，即使市场成熟，小型项目仍然有很多机会通过代币销售获得资金，如果他们使用Binance Wallet和Pancakeswap等平台。

The Bottom Line

底线

Crypto fundraising is back, baby! With a focus on established platforms, late-stage deals, and the resurgence of token sales, the industry is looking healthier than ever. So buckle up, folks, because the second half of 2025 is shaping up to be an exciting ride!

加密筹款回来，宝贝！侧重于既定平台，晚期交易以及代币销售的复兴，该行业看起来比以往任何时候都更健康。伙计们，搭扣，因为2025年的下半年正在塑造令人兴奋的旅程！