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According to a recent press release, CryptoQuant has raised $3 million from industry investors during the recent funding round. The fund was led by Hashed, a globally renowned blockchain capital firm. The firm has been financially supporting blockchain projects towards a decentralized future and has invested in public blockchain projects like Klaytn and Line’s LINK. Other significant investors who participated in the fund include Galaxy Interactive, Mike Novogratz, Youbi Capital, and Mirae Asset Capital.
CryptoQuant stated that it would focus the money on developing its data and analytic infrastructure because the crypto industry is entering the mainstream.
It also noted that data demand on leading digital assets such as bitcoin and ether has recently surged. Moreover, the data demand is expected to rise with increased institutional and retail investors in the crypto world.
CryptoQuant has been providing user-friendly analytical services and essential market insights for years. Additionally, it has focused on preventing harmful practices in the past. For instance, the firm busted a Korean crypto-funded child porn organization and has continued to prevent malpractices that could damage the crypto market.
The firm has also provided investors with insightful expertise to navigate the crypto market and prevent money laundering practices. It does so through on-chain data, alerts, news data APIs, and pro charts.
With the recent funding, CryptoQuant’s services will reach more people in the crypto market.
How Massive is CryptoQuant’s Traffic?
Over the years, CryptoQuant has cemented its legacy in more than 200 countries to become one of the biggest data providers with the most monthly visitors. On top of that, the platform’s paid visitors spend more than four hours a week on this site.
Essentially, CryptoQuant saves its users time when researching data-driven investments. It also provides helpful information to customers through its comprehensive on-chain and derivatives market information.
Do Crypto Investors Struggle With Anxiety?
CEO Ki-Young Ju believes most crypto users suffer from anxiety. According to him, investors invest in this asset class because they lack enough knowledge to make data-driven investment decisions.
“That’s where CryptoQuant comes in, we started as a data provider, and now we’re on the mission to make the crypto markets work for all people by giving them digestible data and community-driven insights,” the CEO noted.
After the funding, Hashed CEO Simon Kim stated that CryptoQuant is a promising project with many potential, leading the funding project.
Kim stated that it has already built a world-class on-chain data analysis platform. Influencers, analysts, and leaders in the market have used CryptoQuant’s data for their content and opinions. “These are distributed to various communities such as Twitter and Telegram, creating massive organic marketing effects for CryptoQuant.”