Paradigm leads a $225 million funding round into a new layer-1 blockchain challenge with Solana.

Monad Labs promises a faster, cheaper layer-1 smart contract network, 100% compatible with Ethereum.

VC interest in crypto firms grows, with recent investments in projects like Mezo.

Paradigm's potential $850 million fundraise signals a rebound in crypto VC funding.

Monad's funding highlights increasing competition in the layer-1 blockchain space.

With backing from Paradigm, Monad and others could reshape the crypto industry in the coming months.