Quick take:
- CoinScan has emerged from stealth with a $6.3 million in funding.
- The Web3 startup wants to bring analytics and insights tools to crypto traders.
- CoinScan will use the funds to accelerate the development of its platform and fund expansion plans.
CoinScan has emerged from stealth with $6.3 million in funding from the publicly-traded digital assets company Tectona, and several individual investors including DraftKings’ leading individual shareholder Shalom MecKenzie, Playtech duo — CEO Mor Weizer and Head of Business Development and M&A, Roy Samuelov, among others.
CoinScan is the first product to emerge from CryptoHub, a Web3 company focused on improving the blockchain economy with scalable, accessible solutions. The company is building a crypto analytics platform that provides traders with deep charting insights from the market.
Commenting on the announcement, Yariv Gilat, Chairman at Tectona Ltd said: “CoinScan is leading the charge in bucking crypto’s negative reputation by providing better access to data directly from multiple sources. The platform provides unmatched safety features that make me optimistic for the industry’s future growth, and we’re thrilled to support CoinScan on their mission.”
CoinScan’s deep charting insights help crypto traders to spot potential rug pulls, scams and fraud, when conducting their token analysis.
Some of the features of the platform include token insights which provide traders with information such as liquidity locks, token taxes, contract renounce status, and honeypot risks.
There are also tools for airdrop analysis and social sentiment, while holder analysis helps traders to assess the distribution and health of a token in real time. The platform has also added a Pending Transactions feature, which allows traders to assess the price action of a token before completing a transaction.
Eliran Ouzan, CEO of CoinScan commented: “No one wants to spend all of their time researching and analyzing blockchain transactions and social media just to avoid getting scammed. The bar for crypto data was very low, so we built the platform that we wished we had.”
CoinScan’s crypto trading analytics platform has been in development for the last two years and recently completed beta testing.
DraftKings’ Shalom MecKenzie believes that just like most in sports betting, crypto should provide traders with the tools they need to assess market opportunities.
“CoinScan is introducing a hub of crypto information that users can finally trust for accurate, real-time insights. I see CoinScan as becoming the home page for anyone involved in the crypto industry,” he said.
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