Digital money examination firm Coin Metrics has shut a Series A financing round worth $6 million.
In a blog entry on March 26, Coin Metrics said the round was driven by Highland Capital Partners and the $6 million venture would be utilized to develop the association’s group, grow their item contributions and “give improved inclusion of advanced resources.”
Different firms including Castle Island Ventures, Communitas Capital, Coinbase Ventures and Digital Currency Group additionally took part in the subsidizing round.
Coin Metrics was made in 2017 by Nic Carter and Aleksei Nokhrin as an open source blockchain organize information and examination venture. It has since become a well known industry asset for understanding the operational and financial action happening on open blockchains.
Money related establishments need great information
Good country Capital Partners is a worldwide funding firm that has likewise put resources into other crypto organizations. Sean Judge, Principal at Highland Capital Partners, stated:
“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 regular State of the Network reports. The most recent edition on March 23 highlighted how the transfer value of stablecoins had reached an all-time high of $444 million following the recent Bitcoin crash.