Crypto area is increasing at a brisk tempo and extra crypto trade platforms are attempting to ascertain themselves out there early on. In a Series A funding spherical, crypto trade platform WOO Network has bagged $30 million (roughly Rs. 223 crore) from numerous buyers, together with main Singapore-based funding agency Three Arrows Capital. A complete of fourteen different enterprise capital companies participated within the spherical. The crypto startup WOO claims to supply deep liquidity and zero-fee buying and selling to customers on its crypto trade.
The growth comes after the corporate’s day by day buying and selling worth grew by $20 million (roughly Rs. 148 crore) in early 2020 to an all-time excessive of $2.6 billion (roughly Rs. 19,330 crore) in mid-September, as per CoinDesk.
WOO Network shared the information about efficiently closing its contemporary funding spherical on Twitter.
Series A accomplished ✅
After $WOO Network’s great development in 2021, a bigger group of strategic backers are set to hitch us on this journey to mass adoption. Thanks to those companions and buyers, our imaginative and prescient is bigger and extra attainable than ever. https://t.co/kiUvl9LjV5 pic.twitter.com/8wIifkJs5p
— WOO Network (@WOOnetwork) November 9, 2021
The crypto trade plans on utilizing the funds to ascertain a analysis and growth facility in Warsaw, Poland.
In October, US-based non-fungible token (NFT) firm known as Candy Digital secured $100 million (roughly Rs. 747 crore) in a Series A funding spherical. NFTs are digital collectibles impressed by actual life gadgets together with video games, art work, and songs amongst different issues.
Mojito, a tech-suite enabling the creation of NFT marketplaces additionally secured an funding of $20 million (roughly Rs. 150 crore) in a contemporary funding spherical just lately.
The crypto market is witnessing a fast enlargement on a world degree. Earlier this week, the general valuation of the crypto market reached the $three trillion (roughly Rs. 2,22,79,296 crore) mark, as per market analysis tracker, CoinGecko.
As per a report by Cryptimi, an estimated 504 cryptocurrency exchanges at the moment exist, out of which 259 are tracked on CoinMarketCap with others deliver early startups.