Blockchain
Crypto Portfolio Manager CoinStats Raises $3.2M to Become the Frontpage of DeFi
Yerevan, Armenia–(Newsfile Corp. – April 12, 2022) – CoinStats, a popular crypto portfolio manager, has raised $3.2 million from leading investors as it executes a pivot to enable DeFi use cases for its 1.2 million active users.
The CoinStats Team
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The round was led by Alex Pack’s Hack VC, with participation from a number of other funds including Mike Dudas’s 6th Man Ventures. The funding is instrumental in financing the development and promotion of CoinStats’ new killer features, which aim to expand DeFi to millions of users.
The raise comes after a phenomenal 2021 for CoinStats, which grew its user base by 8x in 2021 to reach 1.2M monthly active users, cumulatively tracking $500 billion worth of assets (of which $20 billion are guaranteed to exist via synchronized exchange accounts). This helped CoinStats boost revenue by six times in 2021, setting it up for a new product line in 2022. The platform will leverage its strength and user acquisition success to bring integrated DeFi features to its users.
The CoinStats app will enable its users to join DeFi protocols and directly place funds on them in order to earn yield. This makes CoinStats a DeFi aggregator, directing the millions of total users to the protocols listed on the app. This can help push DeFi to the mainstream as the sector remains relatively niche in terms of number of users, despite attracting billions from high net worth individuals.
“With the new funds we will expedite our product development and growth delivering better financial products to our users,” said Narek Gevorgyan, Founder & CEO of CoinStats. “I immensely value the input and support of our investors, their belief in CoinStats’ vision propels us forward.”
“We’re proud to back CoinStats, the largest crypto portfolio manager app in the world,” said Alex Pack, Founder of Hack VC. “Crypto is the first truly new asset class in over a century and it is diverse, with thousands of tokens, NFTs, and dozens of DeFi applications and other DApps where investors can use their tokens. CoinStats has built the essential infrastructure to allow users to truly track what they do with their crypto.”
About CoinStats
Founded in 2017, CoinStats is a free cryptocurrency portfolio management app and DeFi wallet. It provides 1.2 million monthly active users the ability to track their crypto, DeFi, and NFT holdings in real-time from over 300 exchanges and wallet providers all in one place. With over $500 billion worth of crypto managed via the app, CoinStats is on its way to becoming the only platform users will need to explore the ever-evolving world of crypto and DeFi.
Contact:
Dan Edelstein
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120162
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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