Many crypto detractors contend that the web3 house is buoyed by meme cash, so Coatue main a $69,420,000 Series B in a blockchain startup shouldn’t go away them too shocked.
The funding — made in crypto analytics platform Dune Analytics — brings the startup’s valuation to $1 billion. The crowd-sourced knowledge platform has grown to turn out to be one of many extra favored dashboards analyzing actions within the crypto world. Multicoin Capital and Dragonfly Capital additionally participated within the deal for the 16-employee startup.
Blockchains retailer huge quantities of transaction knowledge and platforms like Dune want to assist traders pull extra insights from that knowledge, analyzing strikes on the Ethereum, Polygon, Optimism, Binance Smart Chain and xDAI blockchains.
“There’s a ton of insights in crypto data, but without skilled and incentivized analysts coupled with great tooling this information will remain hidden beneath the surface,” a blog announcement from Dune’s founders reads. “With this financing we’re doubling down on our mission to make crypto data accessible and are committed to bringing a million Dune Wizards to web3.”
Coatue’s good funding follows an $8 million Series A in Dune Analytics this previous August.