An altcoin project backed by Mark Cuban is on the rise with an important investment news. Investors include companies like Animoca Brands and Dapper Labs.
Mark Cuban trusts this altcoin project
Flow-based, cross-chain cryptocurrency wallet Blocto has successfully completed another round of funding backed by VC heavyweights. It received funding from Mark Cuban of 500 Global in its Series A funding round. The new funds will accelerate the mass adoption of Blocto solutions and help make the product a preferred crypto wallet for various Blockchain communities.
Blocto last raised funds in the spring of 2021. Animoca Brands has closed an $8 million token round from investors including SevenX Ventures, collapsing investment firm Alameda Research, and Dapper Labs CEO Roham Garegozlou. The company says the startup’s valuation has increased eightfold, without detailing its earnings.
Blocto Token Price (BLT) price rally
The BLT price gained over 110% shortly after the news. The intraday low has peaked from $0.03358 to $0.09298. It maintains its volume at the time of writing and has yet to see any major revisions.
Can BLT continue to rally?
“We believe the continued growth of Blocto users in the current environment is a testament to Portto’s commitment to become one of the most influential Blockchain companies in the industry,” said Tony Wang, managing partner of 500 Global.
Blocto has recently been made available on Aptos and natively supports other Blockchains such as Ethereum, Solana, Polygon, Flow and BNB Chain. The startup also launched a $3 million Aptos ecosystem fund late last year.
