CoinMetrics startup specialized in analytical data for blockchain investors and traders raised $1.9 million, reports CoinDesk. Startup is based in Cambridge, Massachusetts, got support from Fidelity Investments, Highland Capital Partners and Dragonfly Capital. At the same time CoinMetrics, presented the first set of commercial products for institutions interested in customized research reports. According to the company’s co-founder, institutional investors are not satisfied by existing services who do not distinguish different data massive. He says the company wants to create a white list of exchanges to base the market rates on the data provided by reliable exchanges, not the ones who practice laundry trading and everything like that. According to him, CoinMetrics also analyzes blockchain data in addition to exchange and price activities using methods designed to help traders to get rid of unneeded noise. Meanwhile, company’s CEO noted that CoinMetrics is planning to use traditional securities metrics for crypto currency market. CoinMetrics was launched in 2017 as a hobby project with open source code and its founders have been working on its development all this time. Up to date, the startup has 12,500 followers in Twitter and offers several free tools. Note that there’re several other analytical blockchain startups in the market, however, unlike CoinMetrics which are focused on traders and investors, CoinMetrics is more focused on reveal of suspicious transactions in Bitcoin network. For example, Chainalysis, which raised $30 million recently. |
