Crypto data firm Dune Analytics announces $8M Series A Funding

The blockchain information analytics assemblage has seen overmuch concern this year, with some Messari and Chainalysis besides completing backing rounds

Ethereum information level Dune Analytics announced yesterday the completion of a Series A backing circular successful which it raised $8 million. The circular was led by Union Square Ventures and besides saw the information of Multicoin Capital, Dragonfly Capital and Redpoint Ventures.

Founded 3 years agone successful Oslo, Dune Analytics came from humble beginnings with a ngo to marque crypto information freely accessible. Anyone tin usage the level to make and stock investigation of information from Ethereum.

Ethereum London hard fork happened 24 hours ago. Result achieved: 4700 ETH was burned ($13m equivalent) https://t.co/GgXY57YzAD @DuneAnalytics #EIP1559 pic.twitter.com/5F74BDRqAM

— Anton Bukov 🦇🔊 (@k06a) August 6, 2021

Platform users, known arsenic Dune Wizards, tin entree information for escaped and alteration it into queries, charts and dashboards. Metrics specified arsenic non-fungible token (NFT) trades, state costs and decentralised speech (DEX) volumes marque up the much than 40,000 analyses disposable connected Dune. Decentralised autonomous organisations (DAOs) person besides begun leveraging Dune to make unrecorded fiscal reporting.

With caller cryptocurrencies and blockchain projects emerging connected an astir regular basis, the magnitude of information disposable connected nationalist blockchains is increasing exponentially, which means a greater request for an accessible mode of analysing it.

Union Square Ventures spouse Nick Grossman said successful a blog post yesterday, “Crypto is moving faster each day, and the lone mode to support up with it each is to leverage crypto’s halfway primitives: assemblage and composability. Whatever is going on, present and successful the future, you tin beryllium definite that idiosyncratic is utilizing Dune to assistance themselves, and the world, make an knowing of it”.

We’ve seen a immense magnitude of concern successful the crypto abstraction this year, with institutions backing a wide scope of crypto projects. With the accelerated enlargement of the crypto sector, galore investors are besides present seeing the worth of blockchain information analytics.

Dune Analytics’ backing announcement yesterday comes connected the heels of past week announcements of Messari’s $21 cardinal Series A funding and Chainalysis’ valuation of much than $2 cardinal aft its $100 cardinal Series D financing circular successful March.