Many crypto detractors contend that the web3 area is buoyed by meme cash, so Coatue main a $69,420,000 Collection B in a blockchain startup shouldn’t depart them too stunned.
The funding — made in crypto analytics platform Dune Analytics — brings the startup’s valuation to $1 billion. The gang-sourced information platform has grown to change into 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 large quantities of transaction information and platforms like Dune need to assist buyers pull extra insights from that information, analyzing strikes on the Ethereum, Polygon, Optimism, Binance Good Chain and xDAI blockchains.
“There’s a ton of insights in crypto information, however with out expert and incentivized analysts coupled with nice tooling this data will stay hidden beneath the floor,” a blog announcement from Dune’s founders reads. “With this financing we’re doubling down on our mission to make crypto information accessible and are dedicated to bringing 1,000,000 Dune Wizards to web3.”
Coatue’s good funding follows an $8 million Collection A in Dune Analytics this previous August.