Bitcoin looks stable, but funding is still flowing; Hashed Raises $200 Million for Web3 Adoption

Crypto community reacts to Charlie Munger yelling at Bitcoin again

Judging by the last bit of this next tweet (below) Van de Poppe also now believes the market’s overall bullish trend has moved into a “lengthening cycle”, as per the theory popularised by the excellent quantitative data analyst Benjamin Cowen. (And that’s something Cowen, by the way, seemed keen to remind the Dutchman of.)

While Bitcoin as of now seems, by all accounts, to be stuck in the $55,000-$60K range, huge funding keeps on moving into crypto projects. The significant market influencer cryptocurrency briefly surged above $59,000 in the beyond 24 hours yet faces dismissal in and around that district underneath $60,000. Perhaps the odd piece of US news is having its influence and making vulnerability in the business sectors. News as the most recent variant of the virus  spreads to the US, and the US Federal Reserve is hoping to accelerate the process of reducing its bond buys.

Funding news: Hashed raises $200m for Web3
• South Korean digital assets investment firm Hashed has raised US$200 million for a fund that aims to help grow the Web 3 ecosystem.

This adds to the US120 million the venture capital firm raised late last year to accelerate developments in the blockchain space. Early investment successes for Hashed have included crypto-gaming notables Axie Infinity and The Sandbox, as well as the burgeoning Terra ecosystem. (The latter’s native token LUNA hit an all-time high of US$64.87 just a few hours ago, by the way.)

The company hasn’t yet disclosed its investors for the new fund, which could be due to legal requirements. However, it noted, via a press release, that investment has come from “some of the largest Korean IT companies, multi-discipline conglomerates and globally renowned investment firms”.

Three Arrows invests into Solana metaverse play
• Meanwhile, renowned crypto VC firm Three Arrows has led a US$4.3 million round for the developing Solana-based project Solice – a cross-platform VR game that looks to be competing in the same sort of metaversal areas as Decentraland (MANA) and The Sandbox (SAND).

The round included participation from Alameda Research, Jump Capital, Genblock Capital and Kucoin Labs, among others.

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