South Korean blockchain analytics firm CryptoQuant has just lately raised $three million from trade traders in a just-concluded funding spherical led by main blockchain-focused enterprise capital agency Hashed.
CryptoQuant to Enhance Its Knowledge Construction
In keeping with a press launch shared with CryptoPotato, the funding will probably be geared towards creating CryptoQuant’s knowledge and analytics infrastructure, contemplating that the crypto trade is step by step coming into a mainstream section.
The agency famous that demand for knowledge on main digital property like bitcoin and ether has surged in latest months and can proceed to rise with the inflow of institutional and retail traders into the crypto house.
CryptoQuant has made a reputation for itself through its analytics companies, offering traders of all expertise ranges with the perception to efficiently navigate the crypto market whereas serving to to forestall dangerous practices like cash laundering.
The blockchain analytics agency supplies traders with on-chain knowledge, information, alerts, professional charts, and knowledge APIs that permit them to make sensible funding selections. With the funding, CryptoQuant stated will probably be capable of scale its companies to succeed in much more individuals throughout the trade.
CryptoQuant CEO: Crypto Traders Wrestle with Anxiousness
In keeping with the corporate’s CEO Ki-Younger Ju, most crypto customers undergo from anxiousness once they put money into the asset class as a result of they lack adequate information to make data-driven funding selections.
“That’s the place CryptoQuant is available in, we began as an information supplier, and now we’re on the mission to make the crypto markets work for all individuals by giving them digestible knowledge and community-driven insights,” Ju added.
Hashed CEO Simon Kim additionally commented on the profitable funding, noting that CryptoQuant is a promising venture with plenty of potential, therefore the choice to steer the spherical.
“The CryptoQuant group has already constructed a world-class on-chain knowledge evaluation platform. Influencers, analysts, and leaders available in the market have used CryptoQuant’s knowledge for his or her content material and opinions. These are distributed to numerous communities corresponding to Twitter and Telegram, creating large natural advertising and marketing results for CryptoQuant.”
Different notable traders who participated on this funding spherical embody Mike Novogratz’s Galaxy Interactive, Mirae Asset Capital, and Youbi Capital.