In a rapidly evolving cryptocurrency landscape, where data is often seen as the lifeblood of informed decision-making, concerns about bias and impartiality have cast a shadow over prominent data providers like CoinMarketCap and CoinGecko. The ownership structures and revenue models of these platforms have fueled suspicions regarding their objectivity and fairness in presenting crucial market information.
CoinMarketCap, for instance, is owned by Binance, a major cryptocurrency exchange. This ownership connection raises concerns about potential conflicts of interest and the possibility of prioritizing Binance-affiliated projects in the platform’s listings or promotions. Furthermore, these platforms have been accused of accepting payments from projects to feature their tokens prominently on their homepages, potentially overshadowing newer or emerging projects striving for visibility.
In this backdrop, emerging as a beacon of transparency and integrity, CoinScan emerges to redefine the status quo. With a commitment to providing comprehensive and unbiased data from an extensive array of sources, CoinScan addresses these concerns, offering users a trusted platform equipped with essential safety features. The objective? To empower individuals in the crypto sphere with the insights needed to navigate the market, evaluate risk and reward, and ultimately, make informed choices. CoinScan aspires to be more than just a data hub—it aims to be the home page for every crypto enthusiast, investor, and trader seeking a reliable, unbiased, and secure gateway into the world of cryptocurrencies.
CoinScan Secures $6.3 Million in Funding
In a bid to revolutionize the crypto analytics landscape, CoinScan has made its grand entrance, securing a substantial $6.3 million in funding to drive product development and scale its operations. The announcement marks a significant milestone for the cryptocurrency industry, promising traders enhanced insights and safety features vital for informed decision-making.
CoinScan, the flagship product of CryptoHub, a Web3 company dedicated to advancing the blockchain economy, boasts a comprehensive set of free, in-depth charting tools and robust safety features.
Shalom MecKenzie, a prominent figure as DraftKings’ top individual shareholder and billionaire, is among the notable backers, illustrating the platform’s potential in the eyes of industry heavyweights.
Other backers of the platform include Playtech’s CEO Mor Weizer and Head of Business Development and M&A Roy Samuelov, Shy Datika, iAngels, and publicly traded digital asset company Tectona.
CoinScan Pioneering Safety Measures to Safeguard the Crypto Sphere
The platform addresses a critical concern within the crypto sphere, aiming to mitigate the approximately $1 billion losses incurred this year alone due to exploits, hacks, and scams. By offering groundbreaking scam prevention features, CoinScan aims to bolster safety and instill trust in the crypto community.
One of the key highlights of CoinScan is its innovative safety features:
- Safety Checks: A tool that analyzes a token’s vulnerability to scams by evaluating key indicators like liquidity locks, contract renounce status, token taxes, and honeypot risks.
- Holder Analysis: Providing real-time insights into a token’s distribution and health, enabling traders to monitor wallet holdings in both tokens and USD, including top wallet transactions.
- Airdrop Analysis: A feature that safeguards against ‘soft rug’ scams by identifying wallets that have received airdrops, evaluating their value, and cross-referencing the information with social feeds for legitimacy verification.
- Social Sentiment: Integrating live project feeds from various social media platforms, including Twitter, Telegram, Reddit, and Instagram, to gauge community sentiment and glean crucial insights.
CoinScan’s commitment to transparency is evident through its data aggregation approach, pulling information from multiple sources to offer the most comprehensive and accurate charting insights available on the market. The platform aims to combat crypto’s negative reputation by providing a trustworthy, user-friendly interface that grants traders a substantial advantage.
In a pioneering move, CoinScan introduces the ‘Pending Transactions’ feature, empowering traders to foresee token price action before transactions complete. This forward-thinking element, alongside the ‘Market Navigation’ page facilitating cross-token analysis, underlines CoinScan’s focus on enhancing user experiences and leveling the playing field for investors, regardless of their expertise.
Eliran Ouzan, CEO of CoinScan, pointed out the platform’s user-centric approach, stating, “We’re not just giving traders an edge; we’re introducing tools that allow new investors to enter the market with free, accessible, unbiased information that will allow them to succeed.”
With over two years of meticulous development and successful beta testing, CoinScan is well-poised to elevate the crypto and DeFi user experience, ushering in a new era of data-driven decision-making within the cryptocurrency landscape.
