In the second quarter, venture capital investment in cryptocurrency startups reached 4.5 billion USD, falling 22% compared to the previous three months. Data from DefiLlama shows that the monthly capital flow was 1.29 billion USD in April, 624 million USD in May, and 2.5 billion USD in June, with June being more than 4 times larger than May. However, total investment in this quarter is still nearly 6 billion USD lower than the amount invested in the first quarter of the year. Notable transactions include 585 million USD from Twenty One Capital and 70 million USD from Eigen Labs from a16z. DeFi infrastructure and AI-related projects attracted the most capital, while North American companies received the majority of funding. Total investment from the beginning of the year to date has reached about 10.3 billion USD, surpassing the figure of 9.6 billion USD for the entire year of 2024.