CryptoQuant, a company that provides key data insights with intuitive and customizable charts, has announced it has just closed a fundraising in which it has attracted $3 million, according to a press release shared with iHodl.
The funding round has been led by Hashed, a top VC firm focusing on blockchain, however, other investors have also taken part in it, including Galaxy Interactive, Mirae Asset Capital and Youbi Capital.
CryptoQuant has previously hit headlines over the past years thanks to its intuitive and high visibility analytics services. In addition, the data provided by the company was used to take down a Korean crypto-funded child porn ring.
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Ki Young Ju, the CEO of the company, said of CryptoQuant’s mission:
"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 markets work for all people by giving them digestible data and community-driven insights."
On-chain data provides information about money flow on blockchain networks. This information allows users to see what happens on the networks, which ultimately results in price movements.