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Alchemy Valued at $500 Million, After $80 Million Investment

Blockchain technology provider Alchemy has raised $80 million in its Series B funding round, raising its valuation to $500 million.

The post Alchemy Valued at $500 Million, After $80 Million Investment appeared first on BeInCrypto.

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Blockchain technology provider Alchemy has raised $80 million in its Series B funding round, raising its valuation to $500 million.

Alchemy will use the cash injection to expand its developer tools to other blockchains besides Ethereum (ETH). It also plans to strengthen its presence in New York and California, as well as expand to Europe and Asia.

The funding was led by Coatue Management and Addition LP. It also included DFJ Venture Capital, soccer club Manchester United owners the Glazer family, and the rock band the Chainsmokers.

Increased blockchain investment

This investment is just the latest in a year filled with high value fundings. According to CB Insights, 156 startups focusing on digital technology have raised $3.1 billion so far this year. This contrasts with the 341 deals that drew $2.3 billion in funding for the whole of 2020. 

“It really highlights the power of blockchain and the whole industry and how blockchain has become more mainstream,” said Alchemy co-founder and CEO Nikil Viswanathan.

Blockchain agnostic

Alchemy was founded in 2017, limiting itself to select clients. However, since opening to the public in August 2020, it now powers 70% of the top applications on Ethereum. These include NFT platforms such as OpenSea, Nifty Gateway, SuperRare, and Makersplace. It also facilitates decentralized finance (DeFi) projects.

As part of the funding, Alchemy aims to expand its services to other blockchains as well. Alchemy calls itself “blockchain agnostic,” wanting to help as many distributed computer networks as possible, said Alchemy co-founder Joe Lau.

For instance, it plans to expand its tools to Flow, which powers the popular NBA Top Shots NFT collection. “Investors see us as a bet on the blockchain industry as a whole,” Lau said.

Lead independent director at Morgan Stanley Tom Glocer noted that he invested in Alchemy because of their “systemic themes.” He found their foundational approach appealing. “I couldn’t tell you if bitcoin (BTC) was going to go up or down or if I should buy ether (ETH),” Glocer said, “I want to invest in the picks and shovels.”

He says the scaling up will be a challenge for the 20 employee company. “They need to scale up the company to handle the level of incoming,” Glocer said.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/alchemy-valued-at-500-million-after-80-million-investment/

Blockchain

Ethereum Classic Price Analysis: 6 May

Ethereum Classic is currently undergoing its largest bullish rally in 2021. Since the start of May, the asset has been up by 190% in the charts, registering a new all-time high at $118. The surge has

The post Ethereum Classic Price Analysis: 6 May appeared first on AMBCrypto.

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Ethereum Classic is currently undergoing its largest bullish rally in 2021. Since the start of May, the asset has been up by 190% in the charts, registering a new all-time high at $118. The surge has been incredible and true to its altcoin nature, extremely volatile. However, there are signs that the price is going to exhibit a strong correction over the next few days, with its momentum slowly dying out.

Ethereum Classic 6-hour chart

ETC/USDT on Trading View

The present analysis does not exhibit any proper patterns so the guidelines for a short-position are based on the Fibonacci lines calculated based on its previous top at $49.8. While ETC’s price should not have surged beyond $88 in the current rally, this particular range can now be considered an appropriate range for correction.

Breaching past its -1.272 Fib line, the rally is starting to slow down. Decreasing trading volume is a decisive sign at press time, as buying pressure is seemingly reducing in the 12-hour time frame.

Market Rationals

ETC/USDT on Trading View

Relative Strength Index is also tapering at a previous high range, which may indicate an eventual dump of buying pressure. Stochastic RSI is more uncertain but the selling pressure should be kicking in anytime in the chart.

On-balance Volume is currently higher than the end of April, and the chances of buyers selling for profit at this range are more likely than a week before.

Keeping the above narratives and range in mind, a short position can be entered at $115. An appropriate stop can be placed at $128, and distinguished by the Fib-line. Profits can be taken at any range between $88 and $74, but a correction to $74 should unfold over the next few days. While the Risk/Reward ratio is 3.08x, it is important to note that it is incredibly risky to short ETC at the moment, since buying pressure may invariably return if market sentiment triggers another rally.


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Source: https://ambcrypto.com/ethereum-classic-price-analysis-6-may

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Blockchain

Polkally – the low-cost and safe NFT marketplace

By the end of summer this year, the first protocol version of Polkally, a decentralized auction platform enabling creation and selling of non-fungible tokens (NFTs), will launch on the Polkadot Network and will be open for all, not just for art professionals.  It will bring with it a dedicated team of external experts that will […]

The post Polkally – the low-cost and safe NFT marketplace appeared first on BitcoinerX.

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By the end of summer this year, the first protocol version of Polkally, a decentralized auction platform enabling creation and selling of non-fungible tokens (NFTs), will launch on the Polkadot Network and will be open for all, not just for art professionals. 

It will bring with it a dedicated team of external experts that will carefully analyze smart contracts to ensure accuracy, if not perfection.

As for sales within its platform, only a minimal fee of 5% will be charged by Polkally. It will also have KALLY, its native token that can now only be bought through Uniswap, after its Initial Desk Offering (IDO) on ZeeDO and Poolz by mid-May.

More on Polkally

Polkally had a private sale of $700K worth of KALLY tokens. After that, these “digital assets” will only be available again on May 19 in a dual IDO. 

The goal is to raise at least $200K on each of the IDOs for a total of at least $400K. This should bring a total fundraising haul of $1.1 million, enough to make the project gain some visibility and significance. 

Polkally supports the creation of the most interoperable, user-friendly, and easy-to-use marketplace that values virtual artworks. 

As the project is still in the development phase, its current pool of networks is expected to grow with the addition of Tron, EOS, Binance Smart Chain, and many more. 

Polkally comes with key features like a dynamic auction system for selling artworks at reasonable prices, compatibility with EVM-compatible networks like Polkadot, and a decentralized “Know-Your-Customer” (KYC) based on IPFS.

Addressing common issues

The lack of interoperability, expensive fees, data vulnerability, and being too centralized are just some of the problems encountered today in existing NFT marketplaces.

Polkally addresses this issue with a minimal fee and no hidden charges while utilizing IPFS-based infrastructure to encrypt data for maximum protection.

 

Image courtesy of Polkally/YouTube

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/polkally-the-low-cost-and-safe-nft-marketplace/

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Major Law Firm CMS Adds Stratis (STRAX) to its Legal Accelerator Program

Blockchain-based services company Stratis was selected to become the newest member of CMS’s legal accelerator program.

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The large law firm CMS selected the blockchain service company Stratis, for its equIP legal accelerator program. As a result, Stratis and CMS will offer support and guidance to startups requiring legal counsel.

CMS Adds Stratis to Accelerator Program

Founded in 1999, CMS is an integrated, multi-jurisdictional organization of law firms that offers full-service legal and tax advice. The firm has more than 70 offices in over 40 counties with nearly 5,000 lawyers.

In a press release shared with CryptoPotato, Stratis announced a partnership with CMS. The former is a blockchain-based project offering enhanced security, reliability, and performance through its DLT system.

This means that Stratis will join the law firm’s legal accelerator program called CMS equIP. The integration will enable the blockchain-based service company to “easily tap into CMS’s expert legal teams across the firm’s 70 offices worldwide.”

Stratis will also enjoy “steep” discounts and will be able to access the law firm’s network of investors, tech companies, and startups.


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The CMS equIP program will offer support to startups requiring legal counsel. However, they would need to pass “stringent” selection processes.

“We are please do welcome Stratis to the CMS equIP fold. It has and continues to set a remarkable track record in supporting new businesses and startups that are being built by some of the brightest minds in the country.

As we build a center of excellence for legal services specifically for blockchain companies, and in EmTech generally, Stratis will form an important part of this.” – commented Charles Kerrigan, CMS Partner.

Crucial Importance for Stratis

The statement outlined the “critical” benefits coming in Stratis’ way after receiving access to the “best legal advice in the world.” Furthermore, the partnership could also serve as a major first step towards bridging the gap between companies from within and outside of the cryptocurrency industry, especially in times when global regulations are looming.

Stratis Founder and CEO Chris Trew also highlighted the significance of this integration for this company:

“Being selected to become a member of CMS’s exclusive equIP program is a tremendous achievement for Stratis and a testament to the fantastic technology we have built and delivered. As the first blockchain-based project to be admitted to the program, I look forward to exploring opportunities and collaborating with other innovative equIP members.”

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Source: https://cryptopotato.com/major-law-firm-cms-adds-stratis-strax-to-its-legal-accelerator-program/

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Blockchain

Moma Protocol Completes $2.25M Round to Create Infinite Liquidity for DeFi Lending Markets

[Press Release – Singapore, Singapore, 6th May, 2021] Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures. Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart […]

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[Press Release – Singapore, Singapore, 6th May, 2021]

Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures.

Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart contract factory, creating an ecosystem that allows for the infinite expansion of lending liquidity and market diversity. Moma Protocol was incubated and supported by Lichang, a community App with over a million registered users. Since the protocol’s concept inception, the concept of “improving the scalability of the DeFi lending market” has been favored by the crypto market and recognized by the community.

The investors in this round include Fundamental Labs, a highly reputable blockchain fund that has invested in Coinbase, and also SevenX Ventures, which has over 100 successful investments in it’s portfolio, as well as other investors including AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, Consensus Investment, DFG Capital, FBG Capital, Finlink Capital, Lotus Capital, Magnus Capital, Moonrock Capital, Moonwhale Ventures, Oasis Capital, Spark Digital Capital, Waterdrip Capital, X21 Digital and Zee Prime Capital.  (Participating institutions in alphabetical order).

As an ecosystem with unlimited expansion of lending liquidity and market diversity, Moma Protocol can enrich the DeFi lending market by opening up new lending markets for long-tail digital assets.

SevenX’s spokesperson points out the reason for his bullish view on the Moma Protocol: “As the most important foundation pillar of DeFi architecture — the lending agreement, Moma has made a unique and permissionless innovation here, which greatly enriches the diversity of the market. It has huge potentials to become a scalable platform covering both the mainstream and long tail digital assets.”

Commenting on the investment in Moma Protocol, FBG’s founder Shuji Zhou said, “The DeFi market has seen explosive growth over the past year, with more and more assets being swept up in the DeFi wave. Moma Protocol meets the lending needs of long-tail assets by providing a proprietary smart contract factory that combines the strengths of Uniswap and Compound, to produce an unlimited number of customizable lending pools, thereby bringing more assets into the current lending market to increase the liquidity, diversity and scalability of the DeFi ecosystem, which is something to look forward to. ”

Moma Protocol’s Founder and CEO, Ocean Liao: “I believe that the goal that Moma Protocol wants to achieve is to create an expandable, scalable and flexible infrastructure for the DeFi world in 5-10 years, in a way that everyone can freely participate. I am optimistic about the DeFi ecology and the lending scenario, and I am happy to be able to drive Moma Protocol to explore the future with the infinite liquidity-generating factory model that fascinates me the most. We are ready to set sail!”

About Moma Protocol

As a solution to meet users’ demand for liquidity, scalability, and speculation needs in the DeFi lending markets, Moma Protocol produces, manages, accelerates and aggregates the lending market through a proprietary smart contract factory, creating an ecosystem that can expand infinitely in lending liquidity and market diversity. The beta version of the product has currently been online and the official version of the product will be live in Q2 2021.

Team

CEO Ocean

Master Degree at Fudan University, senior programmer, serial entrepreneur in the blockchain industry with solid experience in initiating projects such as Gravity (300,000 users), Lichang (1 million users), TokenUp wallet (100,000 users); respected veteran in the Chinese community.

CTO V.C

Master Degree at Fudan University, senior blockchain developer, independently led the development, testing, and deployment of two Ethereum-based DeFi projects, and was involved in the launch of the mainnet and application development of blockchain projects such as EOS, Platon and Worbli.

CMO Virginia

Co-founder of Coins Group, a crypto fund based in Hong Kong, 12 years of experience in digital marketing and internet start-up building; 4 years of experience in blockchain investment and project incubation, invested in over 30 blockchain projects

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Source: https://cryptopotato.com/moma-protocol-completes-2-25m-round-to-create-infinite-liquidity-for-defi-lending-markets/

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