Cryptocurrency portfolio tracker CoinStats has managed to raise $1.2 million from private investors to further develop new features for its 1 million active users. According to the firm, the private investors involved in the funding include Imperii Capital, Stefan Cohen, and Jonathan Weiner.
CoinStats provides cryptocurrency market data from 300 crypto exchanges and supports more than 8000 digital assets. Notably, the firm enables users to perform personalized analyses of the available digital assets in order to conduct informed decisions.
For instance, besides the usual information provided by Coinmarketcap and CoinGecko, CoinStats has extra features to help users perform technical analysis based on on-chain information and real-time updates.
CoinStats Market Outlook
CoinStats has amassed more users over time since its inception back in 2017 and anticipates using the funds to develop and integrate extra features to make crypto investment and trading much easier.
“As digital currencies mature, people will want to not only track their assets and wealth with just a few clicks from their mobile devices but also trade from all their accounts and wallets in one place,” said Narek Gevorgyan, founder and CEO of CoinStats. “CoinStats aims to show how easy it can be to manage digital assets in real-time.”
The funding was strategic in most aspects as it will help the firm attract more customers amid the ongoing global cryptocurrency adoption. Furthermore, the crypto industry has more room to accommodate innovators to assist users to invest with caution. Crypto investors can rest assured CoinStats will assist them to navigate through the industry at a minimal cost.
Stefan Cohen noted that CoinStats is well poised to take the crypto industry to the next level by helping both experienced and new traders.
“The existing financial infrastructure has been inefficient and expensive for users looking to monitor their digital asset holdings. With CoinStats, both experienced and novice investors will be able to view, track, and trade their crypto assets all in one place.”
In a statement, Jonathan Weiner who is a fintech investor noted that the new capabilities including a crypto wallet and trading will redefine crypto management.
CoinStats has a comprehensive digital asset management platform that puts it among leading crypto innovators. Besides, the new features will further grow the CoinStats ecosystem to help the platform maintain its status in the market.