Venture Capital Funding News in the Crypto Space: Monad and Berachain Secure Significant Investments

Venture capitalists seeking significant returns on their crypto investments have turned their attention to layer-1 blockchains compatible with Ethereum software. This week, two such blockchains, Monad and Berachain, secured substantial funding, showcasing the growing interest in these projects.

Monad, which is developing a parallel EVM, raised an impressive $225 million in a funding round led by Paradigm. On the other hand, Berachain, an EVM-compatible layer-1 built with Cosmos’ software development kit, closed a $100 million Series B funding round co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures.

These fundraising efforts mark a significant boost for these projects as they aim to deliver enhanced performance and innovative features to the crypto community. Monad, for example, reached 10,000 transactions per second in testing, a vast improvement over Ethereum’s current transaction speeds.

Berachain, on the other hand, plans to introduce a “proof-of-liquidity” consensus mechanism that aims to address limitations seen in Ethereum’s proof-of-stake model. This unique approach separates governance tokens from transactional gas tokens, promoting a fairer distribution of rewards and influence among participants.

With the crypto venture landscape heating up, Dragonfly partner Tom Schmidt shared insights on the current trends in the industry. He noted a gradual increase in institutional interest and novel use cases in the space, signaling a positive shift in the market.

As these projects continue to innovate and attract investor interest, the future of layer-1 blockchains compatible with Ethereum software looks promising. Stay tuned as these developments unfold, shaping the future of the crypto investment landscape.