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- Recently in December 2020, the monthly value had passed over $3 billion
- The ability of FalconX to answer the questions of the new coming investors in the domain has made its image and outcome so much successful
A post on Twitter confirmed that FalconX, the trading platform for cryptocurrencies, has raised successful Vc funds, amounting to $50 million. With this, the total funds raised by FalconX reached $675 million. The company receives its primary backings from Tiger Global Management and B Capital Group.
Later last year, a very fruitful funding round interested AmEx Ventures. In December, it started to put its interest in FalconX’s ring. A group of A-listers joined AmEx Ventures, and it included investors like Lightspeed Venture Partners and Avon Ventures. All these made it possible for FalconX to reach a funding value, which is as high as $675 million.
Effect of BTC and ETH prices on FalconX
With an increasing demand for cryptocurrencies like Ethereum and BTC, this has distinctly increased these cryptocurrencies’ prices. A rise by 170% was noted in Q4, 2020 for BTC. On the other hand, Ethereum had surged by 110%. All these volatilities increased the month’s volume by $3 billion for FalconX. This has provided long-term evidence for sustainable investments in this domain. The main aim of FalconX, as we know, is to repair all the internal discrepancies in the market of cryptocurrencies. With experts claiming more and more rise in the blockchain prices, FalconX is definitely going to receive more and more amounts of fundings from both the investors and the blockchain.
The main attribute for the success of FalconX
The Co-Founder of FalconX, Raghu Yarlagadda, was the spokesperson at the Global Investors Conference. He had proven to be one of the greatest breakthroughs in trading’s institutional platforms. It means to be one of the largest brokers concerning several users and trading volumes. According to the CEO, Raghu, the FalconX platform’s main reason for thriving and growing at this unforeseen rate is its ability to answer all the market’s important questions and customers. The increasing number of new institutional investors getting into crypto makes it evident that the investors will have questions, and FalconX is there to answer these questions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
