CoinScan Emerges from Stealth with $6.3 Million in Funding - PRN India News

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CoinScan Emerges from Stealth with $6.3 Million in Funding

DraftKings' top shareholder backs crypto product giving traders an edge in the market with free in-depth charting and safety features

TEL AVIV, Israel, Sept. 21, 2023 /PRNewswire/ -- CoinScan, a crypto analytics platform built to give traders an edge in the market with free in-depth charting and safety features, today emerged from stealth with $6.3 million in funding to fuel product development and expansion. CoinScan is the first product from CryptoHub, a Web3 company focused on improving the blockchain economy with scalable, accessible solutions.

The company is backed by DraftKings' #1 individual shareholder and billionaire Shalom MecKenzie alongside 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.

"Crypto, much like sports betting, should give people the tools and data to make their own assessments about risk and reward," said MecKenzie. "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."

This year alone, nearly $1 billion has been lost to crypto exploits, hacks, and scams - much of which could have been avoided with better access to data. CoinScan's unique, groundbreaking scam prevention features include:

Safety Checks: This feature assesses a token's susceptibility to rug pulls or scams by analyzing key indicators such as liquidity locks, token taxes, contract renounce status, and honeypot risks.
Holder Analysis: Traders can assess a token's distribution and health in real-time through CoinScan's charting terminal. Users can track wallet holdings in tokens and USD, keeping an eye on top wallets' buying and selling activities.
Airdrop Analysis: Traders can protect themselves from 'soft rug' scams by using this feature to identify wallets that have received airdrops, assess their value, and cross-reference this information with social feeds to verify legitimacy.
Social Sentiment: Recognizing the importance of social sentiment in crypto, CoinScan integrates live project feeds from Twitter, Telegram, Reddit and Instagram to allow users to extract information about a token from its community in real time.

While many crypto data providers are plagued by price inconsistencies and potential biases, CoinScan provides transparent data pulled from multiple sources to provide the deepest charting insights available on the market.

"CoinScan is leading the charge in bucking crypto's negative reputation by providing better access to data directly from multiple sources," said Yariv Gilat, Chairman at Tectona. "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 is also the first to bring a Pending Transactions feature to the market in a user-friendly format, giving traders insights into the price action of a token before it happens, rather than after the transaction fully completes. This gives users an unprecedented advantage, as they can essentially see into the future. Traders can also use the platform's Market Navigation page to search and compare similar tokens to cross-analyze before investing.

"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," said Eliran Ouzan, CEO of CoinScan. "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."

CoinScan has been under development for over two years, and recently completed beta testing. The platform's fundamental mission is to elevate the experience for crypto and DeFi users of all experience levels. To learn more, please visit www.coinscan.com.

About CoinScan
CoinScan is a crypto analytics platform built to give traders an edge in the market with free in-depth charting and safety features. It's the first product from CryptoHub, a Web3 company focused on improving the blockchain economy with scalable, accessible solutions. The CoinScan platform offers several key features including Safety Checks, Holder and Airdrop Analysis, Social Sentiment, Pending Transactions and Market Navigation. The company has raised $6.3 million from investors including DraftKings shareholder Shalom MecKenzie and publicly-traded company Tectona. To learn more about CoinScan, please visit www.coinscan.com

Company Contact: marketing@coinscan.com

Media Contact: Ditto PR, coinscan@dittopr.co