Exchanges attract most VC money in crypto in 2026

Exchanges are the most attractive category for venture capitalists in the crypto space in 2026. With a median investment size of $23M per deal, they stand well above all other sectors, according to data from CryptoRank. The figures show where the big money is flowing and which sectors are receiving less priority from investors.

Exchanges and brokerage grab the biggest cheques

Topping the ranking is the exchange sector with a median VC deal of $23M. That is significantly more than the second place, which goes to brokerage with $18M. Next come stablecoins with $11.9M and CeFi with $11.4M. Payments and compliance both sit at $10M, while wallets come in at $9.7M and infrastructure projects at $9.3M. The fact that Coinbase Ventures is the most active crypto investor in H1 2026 fits well into this broader picture of growing VC activity in the sector.

The high median in the exchange sector indicates that investors have confidence in the profitability of trading platforms. Exchanges generate direct revenue through transaction fees and benefit from higher trading volumes as the market grows. This makes them a more attractive target for large capital injections than projects that are still searching for a sustainable business model.

At the bottom of the list: RWA and interoperability

At the other end of the spectrum are real world assets (RWA) with a mere $5M median investment, followed by interoperability projects and blockchain infrastructure, both at $6M. Social-related crypto projects come in at $6.5M. The lower amounts do not necessarily mean that investors find these sectors uninteresting, but that the deal sizes are structurally smaller, possibly because the projects are in an earlier stage.

Notably, stablecoins, despite their prominent market position, score lower than exchanges and brokerage. The stablecoin market previously lost $10 billion in market value since May 2026, which may partly explain investor caution. Yet the sector ranks third with $11.9M, indicating that VC firms are certainly not writing it off and continue to selectively back promising projects.