The past year has been a nightmare for the cryptocurrency market. We’ve witnessed massive market crashes, massive scams, and deep price drops. However, the crypto world has moved on. As a matter of fact, the projects that made a good start this year continue to attract the attention of investors.
Cryptocurrency projects continue to attract investment…
Coinbase Ventures backs $10M ZkLink fund
As cryptokoin.com reports, ZkLink, an infrastructure layer that facilitates asset trading across blockchains, has raised $10 million in a strategic funding round from a number of investors, including the venture capital arm of crypto exchange Coinbase (COIN). The funding will help zkLink move towards a main-net launch in the third quarter.
Crypto venture capital finance has fallen off the cliff with the brunt of the bear market in 2021. Still, infrastructure projects proved to be resilient. The race to launch ZK-based technology has started to intensify. Polygon and Matter Labs announced the zk-EVM main-net network launch a few days after each other in March. Meanwhile, the company will launch a community campaign for zkLink called “Odyssey” ahead of its main-net launch. Additionally, “Dunkirk” will conduct an asset pull test.
$4 million support round from Alchemy Ventures to Vibe
Vibe, a new non-fungible token (NFT) generation platform that provides tools to help creatives customize and manage tokens, has successfully completed a $4 million seed round. Investors in the round included Aglaé Ventures, the venture capital arm of Web3 infrastructure giant Alchemy, and P Nation, the music company of K-Pop artist Psy.
San Francisco-based Vibe aims to increase the value of NFTs beyond their scarcity. It also aims to implement or increase the utility of the token. The no-code platform allows creators to turn NFTs into applications and products that will allow tokens to thrive and generate real-world and digital benefits.
AlienSwap raises $12 million in funding
NFT marketplace AlienSwap has completed a $12 million funding round led by NEXT Leader Capital and C² Ventures, with participation from OKX Ventures followed by Araceae Capital, BIP32 Venture, Hyper10n Capital, Eureka Trading, Mission Street Ventures, Phyrex and others.
AlienSwap will use the funds raised to increase investment in NFT infrastructure to expand the AlienSwap engineering team, develop new NFT liquidity tools and trading products, and improve the trading experience for users in the NFT community.
Portals completes $2 million seed round
DeFi revenue aggregator Portals announced that it has completed a $2 million seed round led by Lightshift Capital, with participation from Poolside, Basement Labs, LongHash Ventures, Daedalus Angels and Mechanism Capital.
Sui Eco DEX MovEX receives investment from Mysten Labs
MovEX, the Sui Eco DEX, announced that it has received investment from Mysten Labs, a Sui development company. It also announced in a press release that it will continue to build on-chain finance on Sui.
OpenTrade raises $1.5 million in funding
OpenTrade, a cryptocurrency structured finance product, announced the completion of a $1.5 million funding round led by Sino Global Capital, with participation from Circle Ventures, Kronos Research, Kyber Ventures, Polygon Ventures and Outlier Ventures. The funding will help OpenTrade expand its business with initial products that will include a liquidity pool consisting of US Treasury bonds, investment-grade commercial papers and investment-grade supply chain financing, before launching later this year.
Chronos pulled $170 million into return pools in one day
Chronos is an Arbitrum-based decentralized exchange (DEX). The project provides a way to generate returns from digital assets without the need to sell them. In this context, it uses staking. After introducing it, it has withdrawn over $170 million to the platform in a single day.
Chronos is an exchange that launched on April 27 and is called (3.3). It uses staking as its primary source to add value to its token. Some liquidity pools on Chronos pay liquidity providers (LP) up to 2,300% in the form of CHR tokens. It does this so that they can use it to vote on protocol changes.
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