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Cryptocurrencies Tracking App Blockfolio Raises $11.5 Million

Blockfolio—a virtual coin app based on tweaked Bitcoin code—recently raised $11.5 Million in a bid of fundraising led by Pantera Capital. Pantera Capital is one of the most initial prolific cryptocurrency-directed hedge funds. Blockfolio was founded in 2014, in order to keep cryptocurrency investors informed with more than 6,000 cryptocurrencies as well as the incorporation of more than 240 online exchanges. It also keeps tabs on investor’s holdings, to review the market information and price.

Cryptocurrencies Tracking App Blockfolio

Other investors in the agreement included cryptocurrency exchanges such as Huobi, Bitmex and venture capital firms such as DCM Ventures, Danhua Capital, Mayfield, Abstract Ventures, and Pathfinder. Ed Moncada—Cofounder and CEO of Blockfolio’s—stated that if Blockfolio would have been only a price-tracking application, it would not have been able to raise that kind of funds. Moncada bragged about a new feature called as “signal” that enables the team after cryptocurrencies show updates via a one-way channel through optional push notifications. Signal was released a few months back. The optional push notification is a different system than the countless-scrolling feeds. Moncada anticipates an opportunity for Blockfolio to grow beyond a business data provider into the position of mediator for project participants. Presently, Blockfolio has 90 cryptocurrency teams utilizing the app to issue single-directional updates and more than 300-plus teams are on the waitlist. The companies using Blockfolio app includes Civic (blockchain identity startup), Augur (the prediction market), 0x (decentralized exchange project), and Zcash (privacy coin).

Speaking of the cryptocurrency, recently top universities such as Stanford, Harvard, and MIT were in news for investing in cryptocurrency funds. Reportedly, minimum five university funds have invested in the cryptocurrency funds. This indicates that the institutional investors have finally started to invest at least a small amount on the promising asset class. According to The Information, a force of prime educational institutions including Stanford University, Harvard University, Massachusetts Institute of Technology, the University of North Carolina, and Dartmouth College each have put in minimum one cryptocurrency fund via their respective endowments.

Deepak Kumar

After working as digital marketing consultant for 4 years Deepak decided to leave and start his own Business. To know more about Deepak, find him on Facebook, Google+, LinkedIn now.

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