Top Blockchain Analytics Company, CryptoQuant Raises Another $6.5 Million
Leading blockchain analytics company CryptoQuant has successfully raised an extra $6.5 million for its Series A fundraising round. This was after it has successfully raised 12 billion KRW ($9 million) two days ago. Many popular investors, including venture capital firms and key cryptocurrency sector partners, participated in the Series A funding round.
While commenting on this development, the team at Crypto World said that this increase in funding solidifies CryptoQuant’s position as a dominant force in the industry and demonstrates the belief that investors have in the company’s future success. Investigation into the activities of the company has it that it currently offers comprehensive blockchain analytics solutions to over 200 institutional clients.
Among the major organizations’ investors that participated in the fund-raising process are Atinum Investment, Bass Investment, IMM Investment, SK, and HillSpring Investment. It was gathered that the company’s cooperation with the Chicago Mercantile Exchange (CME) last year was one of its major turning points.
With this partnership, CryptoQuant was able to make its cutting-edge analytics capabilities available to CME’s institutional clients, further strengthening its position in the market. Commentaries from the Crypto World analysis section say that with the most recent funding, CryptoQuant will be able to accelerate its growth objectives and make R&D investments to improve its analytics platform.
In its official statement on this development, the company said that the business wants to keep growing its client base to meet the rising demand for trustworthy and useful industry insights in the cryptocurrency space.
CryptoQuant CEO Excited, Hints On The Rising Demand For Cryptocurrency
CEO of CryptoQuant Sang-Young Lee expressed his appreciation for the trust and assistants from the investors. He underlined the value of analytics in navigating the cryptocurrency industry and the firm’s dedication to offering its clients cutting-edge solutions.
In Lee’s words, “We are delighted to receive this additional funding, which will enable us to develop our platform further and serve our clients with the most precise and complete blockchain analytics tools available.”
The demand for reliable analytics systems has increased due to the rising popularity of cryptocurrencies and the decentralized finance (DeFi) industry. Commenting on the activities of CryptoQuant, the CEO assured that with the help of CryptoQuant’s cutting-edge tools and massive data sets, institutions and investors can learn a lot about market trends, liquidity, and investor behavior.
CryptoQuant representative, when interviewed on the CryptoPotato platform in April, announced that some prominent institutional investors are working towards raising a major portion of their portfolio to BTC in the Q2 of 2023. Also, the company’s Head of Marketing, Hochan Chung, in his latest analysis, predicted that the BTC may surge up to $69,000 by the second quarter of 2024.
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