Crypto venture capital investment continued to rebound in Q2 despite a market lull, with founders and investors broadly reporting a more active fundraising environment than in prior quarters, according to Galaxy Digital.

“The crypto venture capital sentiment continues to improve, though levels remain significantly lower than the 2021-2022 bull market,” Galaxy Digital research analysts Alex Thorn and Gabe Parker wrote in a Tuesday report shared with The Block.

Galaxy reported venture capitalists invested $3.19 billion into crypto and blockchain-focused companies in Q2, figures that align with The Block Pro’s funding dashboard, up slightly from $3.16 billion in Q1.

The median deal size also rose slightly from $3 million …