Narratives
What the data says about DeFi as a crypto narrative: the money going in, who puts it there, how much it is talked about and the projects behind it. It says what is happening; it recommends nothing.
Money is moving into DeFi; Circle is the project with the most noise and the most funding there; it has no token yet; its presale: not yet.
- Seeded
- Funded
- Noticed
- Crowded
- Cooling
This week, in plain words
- DeFi has no funding round in the last 30 days..
- No new round this week; 10 rounds in the last 30 days, $22.9M in total.
- Top funds in it this month: Anatoly Yakovenko (tier 1), Coinbase Ventures (tier 1) and Paul Taylor (tier 1).
- First round we know of here for Anatoly Yakovenko, Coinbase Ventures and Paul Taylor.
- The most talked-about project is Circle (103 stories).
- Of the 8 projects that raised here, 7 have no token yet.
Rounds, 30 d10vs 0 before
With top funds4rounds
Raised, 30 d$22.9M6 with a figure
Share of news1.9%408 stories
No token yet7of 8 projects
Twelve weeks i
Projects to watch i
| Project | Last round | Funds | Token | News | Social | Sale |
|---|---|---|---|---|---|---|
| Circle | Sep 2026 · Round · $100.0M | Binance | No token yet | 103 | — | Not yet |
| CAP | Oct 19 · Pre-Seed · $1.9M | Franklin TempletonRobot VenturesSandeep Nailwal+36 | Listed | — | — | Not yet |
| Spout Finance | Oct 2026 · Strategic · $2.0M | Anatoly YakovenkoPaul TaylorRaj Gokal+21 | No token yet | — | — | Not yet |
| Rates Exchange | Oct 2026 · Round | Coinbase VenturesYZi Labs (ex Binance Labs)Amber Group+2 | No token yet | — | — | Not yet |
| Hylo | Oct 2026 · Strategic · $1.0M | Solana VenturesCaveyColosseum+5 | No token yet | 2 | — | Not yet |
| Nectar Group | Oct 20 · Seed · $5.0M | Not disclosed | No token yet | 1 | — | Not yet |
| HoneyB | Oct 20 · Seed · $5.0M | PEER Venture PartnersPortal VenturesAnchorage Digital | No token yet | 1 | — | Not yet |
| Fun | Oct 2026 · Round | IOSG Ventures | No token yet | — | — | Not yet |
Funds in DeFi i
| Fund | Tier | Rounds | This month | Led | Projects | First here |
|---|---|---|---|---|---|---|
| Solana Labs | — | 2 | 2 | 1 | Spout Finance, Hylo | Oct 19, 2026 |
| Anchorage Digital | — | 2 | 2 | — | Spout Finance, HoneyB | Oct 19, 2026 |
| Flow Traders | — | 2 | 2 | — | CAP, Spout Finance | Oct 19, 2026 |
| Anatoly Yakovenko first time | Tier 1 | 1 | 1 | — | Spout Finance | Oct 19, 2026 |
| Coinbase Ventures first time | Tier 1 | 1 | 1 | — | Rates Exchange | Oct 31, 2026 |
| Paul Taylor first time | Tier 1 | 1 | 1 | — | Spout Finance | Oct 19, 2026 |
| Raj Gokal first time | Tier 1 | 1 | 1 | — | Spout Finance | Oct 19, 2026 |
| Sandeep Nailwal first time | Tier 1 | 1 | 1 | — | CAP | Oct 19, 2026 |
| Amber Group first time | Tier 2 | 1 | 1 | — | Rates Exchange | Oct 31, 2026 |
| Anagram first time | Tier 2 | 1 | 1 | — | CAP | Oct 19, 2026 |
| Draper Dragon first time | Tier 2 | 1 | 1 | — | Spout Finance | Oct 19, 2026 |
| IOSG Ventures first time | Tier 2 | 1 | 1 | — | Fun | Oct 26, 2026 |
| Robot Ventures first time | Tier 2 | 1 | 1 | — | CAP | Oct 19, 2026 |
| RockawayX first time | Tier 2 | 1 | 1 | — | CAP | Oct 19, 2026 |
Funds that invest together
No two funds have shared more than one round here yet.
Entry valuation vs now
Not yet: no round here gave a valuation for a project that now trades.
After the round i
| Project | Round | Token | Since |
|---|---|---|---|
| CAP | Oct 19, 2026 | Listed | +45.3% |
Its rounds i
| Date | Project | Round | Raised | Category | Investors |
|---|---|---|---|---|---|
| Oct 2026 | Rates Exchange | — | — | DeFi | Amber GroupGami CapitalF-Prime CapitalCoinbase Ventures+1 |
| Oct 2026 | Fun | — | — | DeFi | IOSG Ventures |
| Oct 2026 | Hylo | Strategic | $1.0M | DeFi | Solana VenturesColosseumMert MumtazKash Dhanda+4 |
| Oct 20 | Nectar Group | Seed | $5.0M | DeFi | Not disclosed |
| Oct 20 | HoneyB | Seed | $5.0M | DeFi | Portal VenturesPEER Venture PartnersAnchorage Digital |
| Oct 19 | MultichainZ | Strategic Sale | — | DeFi | Not disclosed |
| Oct 19 | BitFi | Seed Round | — | DeFi | Fundamental LabsCitizen Journalism Network AcceleratorCGV FoF (Cryptogram Venture)IBC Group+1 |
| Oct 19 | CAP | Pre-Seed | $1.9M | DeFi | Fernando MartinelliKain WarwickKrakenRobot Ventures+11 |
| Oct 19 | CAP | Seed Round | $8.0M | DeFi | Selini CapitalBryan PellegrinoFranklin TempletonPaper Ventures+20 |
| Oct 2026 | Spout Finance | Strategic | $2.0M | DeFi | Draper DragonAnchorage DigitalFlow TradersTaisu Ventures+20 |
| Sep 2026 | Circle | — | $100.0M | DeFi | Binance |
Read Nov 10, 23:41 UTC. Rounds by month are dated the day they became known.