Blockchain Analytics Coin Metric Company Increases $ 6 Million

Cryptocurrency analyst company Coin Metrics shut the $ 6 million series A funding round.

Coin Metrics said the round was conducted by Highland Capital Partners and the $ 6 million investment would be employ to extend the firm’s team, build up their product hand out and “provide enhanced coverage of digital assets.”

Other firms comprising Castle Island Ventures, Capital Communitas, Coinbase Ventures and Digital Currency Group also joint in the financing round.

Coin metrics were created in 2017 by Nic Carter and Aleksei Nokhrin as an open source blockchain data network projects and analysis projects. Since then it has become a popular industry source for understanding the operational and economic activities taking place in the public blockchain.

Financial institutions require good data

Highland Capital Partners is a global venture capital firm that invested in more crypto businesses. Judge Sean, Principal at Highland Capital Partners, added:

“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.” 

The coin metric is common for its efficient State Network reports.

Source: cointelegraph.com

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