On-chain data platform CryptoQuant raises $ 3 million, led by Hashed

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CryptoQuant, the leading on-chain data platform, raised $ 3 million in a funding round led by Hashed, the largest crypto venture capital firm in Asia.

The round brought together major Asian investors and financial institutions, including Galaxy Interactive, Mirae Asset Capital and Youbi Capital.

Ahead of Bitcoin’s bull run in late 2020, CryptoQuant’s popularity began to increase dramatically.

The CryptoQuant team at the Seoul office.

CryptoQuant

The demand for Bitcoin trading has skyrocketed along with the price of crypto assets, prompting traders to flock to platforms that provide useful data on the crypto market.

CryptoQuant enables users to access actionable information for trading cryptocurrencies, based on on-chain data.

Cryptocurrencies are based on a public ledger called blockchain technology. Thus, it is possible to analyze data on the blockchain, such as the movement of funds and whether wealthy investors could buy or sell Bitcoin.

Analysts describe data publicly available on the blockchain as on-chain data. CryptoQuant provides on-chain data to traders on its platform.

Some examples of on-chain data are the inputs and outputs of Bitcoin. For example, when Bitcoin’s inflows to stock exchanges increase dramatically, it may indicate that high net worth investors might be preparing to sell.

Since whales hold Bitcoin in self-hosted wallets, in order for whales to sell Bitcoin, they need to transfer their holdings into exchanges.

The variety of data types that can be sourced on the blockchain allows platforms like CryptoQuant to source a large number of datasets.

Another example is the Coinbase bounty. Coinbase is the most widely used cryptocurrency exchange in the United States

Therefore, if the price of Bitcoin is trading at a higher price or at a premium on Coinbase, it may indicate that traders in the US market might buy.

The diversity of actionable data on CryptoQuant, combined with the recently released Quicktake feature, which allows verified analysts to share market trends with platform users, makes CryptoQuant a useful tool for both casual and professional traders.

The new feature of CryptoQuant Quicktake allows verified analysts to share market data with users.

CryptoQuant, elcryptotavo

Galaxy Interactives Richard Kim said:

We are excited to support CryptoQuant, a community-driven trading analytics platform for Gen Z and Millennial investors. Today Gen Z and Millennial Investors are finding business ideas through social platforms like Reddit, Twitter, etc. They visit these social platforms for information, but the signal-to-noise ratio on existing platforms is flooding with useful information.

Kim pointed out that the organized analysis on market activity and trends on CryptoQuant makes the platform particularly convenient for retail traders.

CryptoQuant’s mission to become the gateway to quantitative, community-driven, actionable insights fits perfectly with our thesis of investing in informed retail empowerment. build one of the leading social fintech communities in the crypto ecosystem, Kim said.

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