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    Pantera Capital’s Raises $160 Million In Third Venture Fund To Boost 35 Crypto Startups

    Pantera Capital’s Raises $160 Million In Third Venture Fund To Boost 35 Crypto Startups

    Across the world, crypto firms are getting more and more in funding, even as ICOs seem to have dwindled in popularity.

    Most of this funding, of course, comes from institutional investors and has seen crypto firms raise hundreds of millions of dollars.

    The latest addition to this group is Pantera Capital, who have been able to raise up to $160 million in their third venture capital funding, in addition to the millions they have already raised in their last two rounds. In total, the firm hopes to raise $175 million before the end of this funding round.

    About Pantera Capital

    Pantera Capital’s first fund began in 2013 and focused on giving support to crypto startups. Their latest round, dubbed Venture Fund III, is working towards the same goal and has already made investments in various firms.

    According to them, $38 million in funding has already been given to about 11 companies and Pantera Capital led the funding for about five of them. Should they reach their $175 million goal, more work can be done, they say.

    “We project making a total of 35 investments, with an average deal size of $3.5 million, and an 11% target average equity stake,” said the announcement.

    There was also a breakdown given of the types of firms that have gotten funding from Pantera Capital. Infrastructure led the way with 35.1 Percent of the investments while exchanges saw 29.4 percent of the exchanges. Other categories on the List were finance, payments, and enterprises.

    Among the mentioned investments was an investment in Bakkt while they await the launch of their bitcoin futures product.

    What Will Happen To Bitcoin?

    The announcement also touched On the Bitcoin price and, more importantly, the effect that the halving of rewards will have on it’s price.

    Mirroring a commonly-held belief in the industry, the announcement states that the halving of rewards will likely have a positive impact on the Bitcoin price.

    “We have seen a couple of these cycles where the tide begins to shift roughly a year in advance of these dates. Inflection points occurred 376 and 320 days prior to the 2012 and 2016 “halvings”, respectively. Taking their average of 348 days could indicate a bottom on June 10, 2019. The vertical lines below indicate block reward halving dates and the circles represent past and possible future inflection points,” it says.

    Today's Top Cryptocurrency Predictions: BTC, ETH, EOS, and XRP Technical Analysis

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    Tokoni Uti
    Tokoni Uti
    Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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