Fidelity Participates In Financing Of Blockchain Startup
Fidelity Investments has become a participant in the financing round of the CoinMetrics blockchain startup, which specializes in providing analytical information for crypto investors and traders. The startup managed to attract $1.9 million, CoinDesk reports.
According to CoinMetrics, currently, investors are dissatisfied with the lack of high-quality analytical data in the array of information that exists in the financial markets. In this regard, the startup has prepared its commercial products containing high-quality data for its institutional clients.
CoinMetrics seeks to create a list of crypto trading platforms that are most trustworthy and rely solely on their data regarding market rates, Nic Carter, a co-founder and CEO stated.
Apart from researching the operation of trading platforms and prices for digital assets, the startup is involved in analyzing blockchain data. A specific technique allows eliminating unnecessary information so that crypto traders get reliable data.
CoinMetrics aims to apply the metrics of traditional securities markets to the crypto market. The company’s website is visited weekly by 15,000 people, of which one fifth can become solvent customers, Tim Rice, the startup executive director, stated.
The startup began its work in Massachusetts in 2017 as a hobby project. The company is continually evolving and has already created a number of free analytical products. CoinMetrics has over 12,000 subscribers on Twitter.
As previously reported, another analytical crypto company Chainalysis raised $30 million during the funding round.