• CryptoQuant, an on-chain data provider and market analysis platform, has announced the completion of its Series A funding round for 8.5 billion KRW ($6.5 million).
• The funding was led by Atinum Investment with added help from IMM Investment, SK, Bass Investment, and HillSpring Investment.
• CryptoQuant’s data is already being used by prominent financial outlets including Bloomberg and CNBC.
CryptoQuant Raises Another $6.5 Million In Series A
CryptoQuant – an on-chain data provider and market analysis platform – announced the completion of a Series A funding round on Thursday for 8.5 billion KRW ($6.5 million). This raise brings CryptoQuant’s total raised funds up to 12 billion KRW ($9 million). The funding was led by Atinum Investment with added help from IMM Investment, SK, Bass Investment, and HillSpring Investment.
Institutional Interest in Bitcoin
Institutional interest in Bitcoin has been growing since BlackRock filed its first application for a Bitcoin spot ETF in the United States last month. This move not only sent Bitcoin’s price and market dominance booming but also motivated other financial institutions – like Fidelity – to copy its every move.
CryptoQuant’s Global Recruitment Plans
Atinum said that the need for CryptoQuant’s infrastructure will be necessary for traditional financial institutions entering the digital asset market around the world. To meet this demand, CryptoQuant will use its new funds to expand its global team.
Prominent Financial Outlets Using CryptoQuant’s Data
CryptoQuant’s data is already referenced by prominent financial outlets including Bloomberg and CNBC as well as CryptoPotato itself. The firm’s on-chain data helped its clients identify early warning signs of Terra (LUNA’s) death spiral last year before it happened which eventually saved investors a lot of money at the time