Cryptocurrency analytics agency Coin Metrics has closed a Series A funding spherical value $6 million.
In a weblog submit on March 26, Coin Metrics mentioned the spherical was led by Highland Capital Partners and the $6 million funding can be used to develop the agency’s crew, develop their product choices and “provide enhanced coverage of digital assets.”
Other companies together with Castle Island Ventures, Communitas Capital, Coinbase Ventures and Digital Currency Group additionally participated within the funding spherical.
Coin Metrics was created in 2019 by Nic Carter and Aleksei Nokhrin as an open supply blockchain community information and analytics challenge. It has since turn into a preferred business useful resource for understanding the operational and financial exercise occurring on public blockchains.
Financial establishments want good information
Highland Capital Partners is a worldwide enterprise capital agency that has additionally invested in different crypto companies. Sean Judge, Principal at Highland Capital Partners, mentioned:
“Financial institutions require clean and transparent data to make decisions. These same requirements exist for Bitcoin and other cryptoassets that have emerged over the last decade. It’s become clear that Coin Metrics is the premier destination for network and market data.”
Coin Metrics is well-known for its common State of the Network stories. The most up-to-date version on March 23 highlighted how the switch worth of stablecoins had reached an all-time excessive of $444 million following the latest Bitcoin crash.