Cryptoquant, a provider of on-chain and market monitoring tools for crypto markets, recently closed a $3 million investment round. Several investors took part in the round of funding, with Hashed, a blockchain-based venture capital firm, taking the lead. VC firms Youbi Capital and Galaxy Interactive also participated in the fundraising round. Mirae Asset Capital, a specialized credit financial firm, has also joined the roster of investors in Cryptoquant’s investment.
Hashed is known for financially supporting high-potential blockchain initiatives, making their engagement crucial. Through its multiple investments, the company focuses on promoting a decentralized future. Hashed previously invested in the Klaytn and Line’s LINK public blockchain initiatives. Simon Kim, the company’s CEO, spoke about the decision to fund Cryptoquant.
As Kim put it,
The CryptoQuant team 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.
Because of the development in crypto use, there is a greater demand for high-quality digital asset data. For most institutional investors and big corporations, data and analytics have been critical. Crypto enthusiasts can view what happens on the network and track price movement using on-chain data.
Traders use Cryptoquant’s statistics, news, and educational information, as well as alerts. The on-chain data and analysis firm’s data includes 33 main exchanges, all miners, banks, and other institutions. Traders can also benefit from Cryptoquant’s real-time alerts. Additionally, the company’s pro charts assist traders in managing risks in real time, and its data API is beneficial to hedge funds and professional investors.
Speaking on Cryptoquant’s mission, CEO Ki Young Ju noted:
Most crypto investors have anxiety when they invest in cryptocurrencies because they are struggling with making data-driven decisions due to a lack of time and knowledge. Without data, crypto investing would be gambling. That’s where CryptoQuant comes in. We started as a data provider, and now we’re on the mission to make the crypto market work for all people by giving them digestible data and community-driven insights.
The analytic firm has grown to become the leading data provider with the most monthly visits throughout the years. The site receives visitors from over 200 nations around the world. Furthermore, paying visitors to CryptoQuant spend more than four hours every week on the platform.
Cryptoquant, in general, aids in the reduction of the problems of data-driven investment by reducing research time. It also gives important information that can assist investors. On-chain, derivative markets, and other topics are covered in depth by Cryptoquant.