RootData March encrypted data summary: The market is extremely panicked, and the industry is accelerating integration

Compiled by: Darren,RootData

In March 2025, BTC consolidated at a low of 8w to 9w US dollars, a drop of 17% to 26.6% from the first quarter high (US$1090 million). The cryptocurrency fear and greed index fluctuated between 20 and 30 in March, and even fell below 20 and fell to 15 on March 11, the lowest level since July 2023, and the market was in a state of extreme fear.

In March, the total amount of investment and financing in the crypto sector reached US$2.88 billion, up nearly 200% month-on-month. The main reason for the sharp increase in financing is that Binance received US$2 billion in financing; the number of financing started at 74, down about 18% month-on-month, indicating that the number of investment institutions in the market has decreased; the average amount of financing this month was US$44.3565 million, with a median amount of US$5 million.

Financing trends in the crypto field in the past two years

In this article, we will focus on specific financing data, active investors, hot search projects and other aspects to present the changing trends of the crypto market for everyone.

1. Financing data

This month, there were 2 financing and mergers and acquisitions over US$1 billion, with 3 financings exceeding US$100 million and 22 financings exceeding US$10 million. Among them, the highest single financing amount wasBinance , one of the world's largest digital asset exchanges, which received US$2 billion from MGX ; and the futures trading platform NinjaTrader was acquired by Kraken for US$1.5 billion . Other popular projects that completed financing include the decentralized storage and data availability protocol Walrus completed a $140 million financing; BTC reserve asset company Metaplanet completed a $87 million financing, and so on.

In terms of financing amount and rounds, US$1-5 million is the financing range with the largest proportion (36.4%), and the seed round is the hottest financing round. A total of 13 projects completed seed rounds . Well-known projects include the decentralized oracle solution Chronicle Protocol ($12 million), the decentralized AI model protocol Pluralis AI ($7.6 million), the SVM-compatible Proof-of-work L1 Ambient ($7.2 million), the Web3 mini-game SDK and the platform PlaysOut ($7.0 million), and so on.

In addition, there were 12 mergers and acquisitions in the crypto market in March, with the number of mergers and acquisitions exceeding 10 for five consecutive months . There were many mergers and acquisitions for many consecutive months, indicating that the industry has entered a period of integration. The leading projects have expanded their market share and acquired resources or technology through mergers and acquisitions; to a certain extent, it also shows that some small and medium-sized projects may find it difficult to survive independently in the current market environment and choose to exit.

2. Active investors

Robot Ventures and Dragonfly are the venture capital institutions with the highest investment frequency in March, with both taking 5 shots:

• Robot Ventures : FastLane ($6 million), August ($10 million), Rakurai ($3 million), Templar Protocol ($4 million), Fragmetric ($5 million).
• Dragonfly : DoubleZero ($28 million), August ($10 million), Slingshot ($16 million), Yeet ($7.75 million), Level ($2.6 million)

Activity is followed by Amber Group , IBC Group and Coinbase Ventures , with 4 shots.

3. Character dynamics

RootData also records the career trends of tens of thousands of well-known crypto industry personnel and executives. Here are some of the career trends of people worth noting:

Dan Chen is the new Chief Financial Officer (CFO) of crypto trading platform Gemini, previously serving as Vice President of Capital Markets at Affirm;

Matt Russ is the new Director of Business Development and Strategy at CoinFund, mainly responsible for adjusting business strategies through market trends;

Brett Shear serves as general partner of 1confirmation, and he is also a managing partner of PTC Crypto;

Raymond Lee serves as the co-founder of Quivr, and he is also the co-founder of Daisy;

Justin Nolan serves as CEO of Argo Blockchain, who was previously CEO of Arkon Energy.

Akshay Naheta serves as the co-CEO of Bakkt, and he is also the founder and CEO of DTR and has served as senior vice president at SoftBank.

Amanda Tuminelli is the new executive director of DeFi Education Fund;

For more information about the person, please refer to: https://www.rootdata.com/zh/people

4. Popular projects

RootData popularity value is calculated by normalizing the platform search volume, click volume, user voting and Twitter popularity index. The most popular items in March include:

1. Particle Network

Particle Network is a chain abstraction infrastructure provider that powers chain abstraction by creating a common account, providing users with a single address and interaction point across chains, while extracting gases and unifying liquidity. This enables existing L1 and L2 to coordinate seamlessly across ecosystems.

2. Nillion

Nillion is a decentralized public network based on a new cryptographic primitive called Nil Message Compute (NMC), allowing nodes in a decentralized network to work in a unique, non-blockchain way. Nillion unlocks important new utilities in Web3 by enabling use cases such as decentralized credit scores, decentralized trusted execution environments, private NFTs, decentralized secure storage services, and more.

3. Walrus

Walrus is a decentralized storage and data availability protocol. Walrus focuses on providing powerful and affordable solutions for storing unstructured content on decentralized storage nodes while ensuring high availability and reliability even in the presence of Byzantine failures.

4. KiloEx

KiloEx is a user-friendly perpetual contract DEX that focuses on risk management and capital efficiency, and supports asset types including cryptocurrencies, forex, and stocks.

5. Bedrock

Bedrock is a multi-asset liquid re-staking protocol that brings re-staking benefits and institutional-level security to the community through brBTC based on Babylon, uniBTC based on Eigenlayer, uniETH based on IoTeX, and composite re-staking protocols (Babylon, Kernel, Symbiotic, Pell, etc.).

6. Plume

Plume is a fully integrated modular chain focused on RWAfi. They built the first modular, composable RWA-focused EVM compatibility chain to simplify onboarding for all types of assets and capital induction through native infrastructure and unified RWAfi-specific capabilities across the entire chain. Plume is building a composable DeFi ecosystem around RWAfis with an integrated end-to-end tokenization engine and a network of financial infrastructure partners for builders to plug and play.

7. RedStone

RedStone is a cross-chain data oracle technology that provides fast and cost-effective data access, complete historical audit trails and insurance-backed decentralized dispute mechanisms, providing users with recourse when data provision is inaccurate. Arweave blockchain project is used to save data and track reputation.

8. Binance

Binance is one of the world's largest digital asset exchanges, aiming to become an infrastructure service provider for the blockchain ecosystem. Binance has a range of crypto products and product portfolios, including transactions and finance, education, data and research, social welfare, investment and incubation, decentralization and infrastructure solutions, among others.

9. Sonic

Sonic is a Layer-1 platform with Ethereum Security Gateway, providing the fastest settlement layer for digital assets, with TPS of over 10,000 and transaction confirmation time of one second.

10. Solana

Solana is a high-performance underlying blockchain protocol designed to provide scalable, user-friendly applications to the world.

11. Coinbase

Coinbase is one of the world's largest cryptocurrency exchanges, founded in June 2012 by former Airbnb engineer Brian Armstrong. As of July 2022, approximately 98 million verified users, 13,000 institutions and 230,000 ecosystem partners in more than 100 countries believe that Coinbase can easily and securely invest, consume, save, earn and use cryptocurrencies. Coinbase’s mission is to improve the world’s economic freedom.

12. MyShell

MyShell is a decentralized AI consumer layer that allows creators to build artificial intelligence agents or robots that consumers or users can use. Its ecosystem includes robots such as OpenVoice (an instant voice cloning program); MeloTTS, a multilingual text-to-speech (TTS) library; Alice is an artificial intelligence agent that can perform a variety of tasks, including topic research, coding and literature reviews.

5. Project News

In March, RootData also recorded many main network online and recent airdrop events of many projects to help users understand important project dynamics in the market and master earlier alpha opportunities.

Due to space limitations, the above is some main network and token information. For more complete and timely data information, please visit the official website of RootData ( https://www.rootdata.com/zh/ ) to view and learn about it.