Ethereum

2024

April

LightLink

<p class="is-style-lead">Ethereum layer-2 blockchain LightLink secured $6.2 million in funding during an extended <a href="https://lightlink.io/blog/lightlink-announces-6-2m-in-funding-from-extended-seed-round" target="_blank" rel="">seed round</a>.</p> 
<p class="is-style-default">Institutional and individual investors participated in the effort. </p> 
<p>“No further rounds planned [at the moment],” the company stated in a social media post on Saturday, April 6. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Due to strong interest, we're having this single VC round to benefit our ecosystem by partnering with the right long-term backers.<br><br>No further rounds planned atm.<br><br>An LBP on <a href="https://twitter.com/FjordFoundry?ref_src=twsrc%5Etfw" target="_blank" rel="">@FjordFoundry</a> is a better way to ensure fair token distribution and build a community around the project. <a href="https://t.co/yiS0PwPPDT" target="_blank" rel="">https://t.co/yiS0PwPPDT</a></p>— LightLink ⛓️ (@LightLinkChain) <a href="https://twitter.com/LightLinkChain/status/1776701413055447341?ref_src=twsrc%5Etfw" target="_blank" rel="">April 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>LightLink extended the seed round due to high demand from investors. The startup ended up receiving an additional $1.7 million in the process. ‘</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">LIGHTLINK L2 EXTENDS SEED ROUND – RAISES $6.2 MILLION<br><br>– <a href="https://twitter.com/LightLinkChain?ref_src=twsrc%5Etfw" target="_blank" rel="">@LightLinkChain</a> has just announced the extension of its seed-stage investment round, bringing it to a full $6.2 million.<br><br>– Participants include notable VC funds such as <a href="https://twitter.com/MH_Ventures?ref_src=twsrc%5Etfw" target="_blank" rel="">@MH_Ventures</a>, as well as industry-leading KOLs like… <a href="https://t.co/hH6xytjiL5" target="_blank" rel="">https://t.co/hH6xytjiL5</a> <a href="https://t.co/xdtTQkDKGY" target="_blank" rel="">pic.twitter.com/xdtTQkDKGY</a></p>— BSCN (@BSCNews) <a href="https://twitter.com/BSCNews/status/1776340833677058544?ref_src=twsrc%5Etfw" target="_blank" rel="">April 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The company plans to use this influx of capital to support its vision of a <a href="https://crypto.news/tag/web3/" target="_blank" rel="">web3</a> ecosystem accessible to millions while advancing proprietary technologies for gasless transactions.</p> 
<p>Roy Hui, LightLink’s co-founder and CEO, expressed enthusiasm about the investment, highlighting the company’s commitment to practical blockchain solutions.</p> 
<blockquote class="wp-block-quote"> 
 <p>Our mission at LightLink is to make blockchain practical and accessible. This investment will help us continue building a Web3 ecosystem for millions of users from our enterprise partners and enhance our proprietary technology for gasless transactions.</p> <cite>Roy Hui, LightLink CEO and co-founder</cite>
</blockquote> 
<p>The extended seed round saw participation from prominent venture capital (VC) firms such as MH Ventures and NxGen, alongside contributions from individual crypto investors like Eric Cryptoman and Satoshi Stacker.</p> 
<p> You might also like: <a href="https://crypto.news/dogecoin-surges-mysterious-wallet-transaction/" rel=""> Dogecoin surges over 10% to cross $0.20 mark </a> </p> 
<p>LightLink reportedly records about 115,000 daily transactions and enjoys a strategic alliance with Animoca Brands.&nbsp;</p> 
<p>Additionally, one of its upcoming initiatives is the launch of its LL token, backed by a liquidity bootstrapping pool. The move is designed to ensure equitable distribution and efficient price discovery within the LightLink ecosystem, which facilitates instant, gasless transactions for <a href="https://crypto.news/tag/dapps/" target="_blank" rel="">dapps</a> and enterprises.</p> 
<p>The company’s successful seed round comes against a backdrop of renewed VC interest in the crypto space. </p> 
<p>According to data gathered by Crypto Koryo, venture capital funding in crypto projects has surged by 38% since Q4 2023.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">🔸 Long-term Trend 🔸<br><br>Both total investments and number of investments have increased compared to last quarter.<br><br>Compared to last quarter, there was a 38% increase in amount invested and 49% increase in the number of projects invested. <a href="https://t.co/QhIcsOB0qw" target="_blank" rel="">pic.twitter.com/QhIcsOB0qw</a></p>— Crypto Koryo (@CryptoKoryo) <a href="https://twitter.com/CryptoKoryo/status/1775827040895483923?ref_src=twsrc%5Etfw" target="_blank" rel="">April 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Crypto Koryo’s data indicated that the number of crypto projects receiving VC funding also increased by 49%.</p> 
<p>Venture firms such as Andreessen Horowitz, OKX Ventures, and Paradigm led major <a href="https://crypto.news/tag/investment/" target="_blank" rel="">investment rounds</a> in the first quarter of 2024.&nbsp;</p> 
<p>In March alone, crypto VC funds invested over $1.1 billion across 180 crypto startups, with a focus on infrastructure and decentralized finance projects. </p> 
<p>This upward momentum in VC funding mirrors the trend seen in the fourth quarter of 2023, which observers say indicates a positive outlook for continued growth and innovation in the crypto space.</p> 
<p> Read more: <a href="https://crypto.news/cathie-wood-calls-us-regulators-to-emulate-hong-kongs-cryptocurrency-policies/" rel=""> Cathie Wood calls on US regulators to emulate Hong Kong’s cryptocurrency policies </a> </p>

Blockchain startup LightLink raises $6.2m as cryptocurrency VC activity shifts

crypto.news

Other articles published on Apr 7, 2024

Ethena Price Prediction: ENA Bull Run Price Discovery, New Cryptocurrency Launches In April

Can This Underdog Crypto Shine More Than Solana and Avalanche in the Next Rally?

Weekly Round-Up #93 | Bringing you up to speed with the top stuff!

Bitcoin, Ethereum Prices Stabilize Ahead of Halving: ETFs May Limit Volatility

Why Solana will ‘double in value’ against ‘junk coin’ Ethereum: Trader

Ethereum’s Price Hurdles and Technical Market Analysis

Join our free newsletter for daily crypto updates!