The graduates of Alliance DAO are often useful indicators of investor appetite and user adaption trends within the crypto space. The latest batch of the stage-agnostic crypto accelerator, unveiled today, comes at a moment of great excitement for the recovering market.

Just two months ago, Bitcoin hit its all-time high; though the value of the largest cryptocurrency has since declined, it continues to trade at much higher levels than during the market downturn following FTX’s implosion in late 2022. Venture investors are responding and plowing money into web3 startups, sending total fundraising in the space to roughly $1.9 billion in Q1, a sharp 58% jump from the quarter before, according to Crunchbase data.