The crypto portfolio tracker Blockfolio has officially raised $11.5 million USD in a round of fundraising that was led by one of the most popular cryptocurrency hedge funds, Pantera Capital. This is everywhere in the cryptocurrency news space lately, especially because the funding was monitored by the CEO and chief investment officer of Pantera Capital, Dan Morehead.
In addition to the official announcement, the company also unveiled the new design of its app. For all the newbies out there, Blockfolio offers daily news updates from the top crypto news sites and price alert integrations.
As one report on Fortune noted, the company (Blockfolio) is rapidly growing beyond its portfolio management feature. The report noted that the company may grow in the role of a mediator for project participants, which is why it released a new feature called “signal” which allows cryptocurrency developers to share updates through push notifications – directly within the app.
Even though the app is currently not monetized and there are no plans for running ads, the co-founder and CEO of Blockfolio Ed Moncada is confident about the future. He stated:
“If we were just a price-tracking application, we wouldn’t be able to raise that kind of money.”
Moncada also believes that this can be one of the best opportunities for the app to preserve the trust of its users, even if that means losing revenues. Since its launch in 2014, Blockfolio has attracted more than 4.5 millions of users who use the service to keep up with the latest news across multiple exchanges, keep their holdings and get updates on the recent updates by cryptocurrency project developers.
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019
‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
Pantera Capital CIO: “Bitcoin Will Not Succeed As Money”
"Bitcoin created the ability to send money around the globe cheaply and easily without having to trust a third party," Krug was confident.He also went on to discuss several revolutions in the past, from the information revolution triggered by printing press up to the telegram, telephone, radio, television and finally, the Internet. When asked about finance, Krug believes that the industry has made leaps of progress such as increases in execution speeds, online user interfaces, brokers etc. However, he stated that a financial revolution powered by the blockchain could advance us into a next era where money, value and finance will all be coordinated thanks to crypto.
"This infrastructure will be borderless, cheap, quick, and, most importantly, will let people trade on things they’ve never been able to exchange before, and if markets for those don’t exist yet, it’ll let them create it," Krug concluded.
Scottish Man Sentenced To Prison For Buying Firearms On The Dark Web With BTC
‘’You claim that you had no intention of causing harm to anyone but the fact remains that you went to considerable lengths to get hold of a potentially lethal weapon and ammunition. You must have appreciated that this was unlawful. For this conduct you must be punished.’’This case is only a number in the series of similar cases where bitcoin is used to carry out illegal activities on the dark web.
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