The total financing amount in the Web3 industry reached $2.75 billion in Q2 2024, a year-on-year increase of 38.9%, with the total number of mid-to-late stage financings growing by 20.7% quarter-on-quarter. In the first half of the year, the total fundraising amount for Web3 investment funds reached $1.38 billion. The competition for Binance List Tokens has become intense, and high valuations combined with low circulation models may suppress token price performance.

The total number of users is close to 400,000, and Farcaster is gradually becoming another important crypto social hub after X.