Woofun AI data shows that the cryptocurrency primary market recorded 42 financing and merger events in June 2026, totaling approximately $898 million. This figure represents a 60.5% month-on-month decline and a 67.3% year-on-year decrease. Among these, 15 merger events accounted for roughly $305 million. Capital allocation remained concentrated in infrastructure, DeFi, and CeFi, with institutional capital markets, on-chain credit, derivatives trading, and stablecoin settlement emerging as primary growth areas.

DeFi led in activity with 18 events and $330 million in disclosed value, headlined by Morpho’s $175 million raise. The infrastructure sector secured the highest total amount at $453 million across 13 events, supporting projects like Digital Asset and Ornn. CeFi saw 12 events, including SBI Holdings’ $289 million acquisition of Bitbank. Top five projects captured 76% of total disclosed funds, while major investors such as a16z and Coinbase Ventures focused on compliant, institutionally oriented ventures.