Blockchain Company Alchemy Valued At $3.5B After Series C Raise – October 29

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $60,888

Bitcoin price has whipsawed dramatically over the last 24 hours of trading, touching as low as $58,000 and as high as $62,500.

Top-20 altcoins have had mixed performance, as Ethereum gains 3%, Cardano falls 1% and Shiba Inu sees a 10% correction.

Top Stories for October 29, 2021 πŸ”₯

πŸ‘‰ Blockchain Company Alchemy Valued At $3.5B After Series C Raise

Blockchain infrastructure firm Alchemy is now valued at a significant $3.5 billion, after closing a $250 million Series C funding round.

The funding round was led by Andreessen Horowitz (a16z), with additional contributions from Lightspeed and Redpoint.

Alchemy was founded in 2017 and has a growing presence in the NFT sector, providing services to OpenSea, Axie Infinity and Dapper Labs.

πŸ‘‰ Huobi Officially Shuts Down Crypto Derivatives For Chinese Traders

Prominent cryptocurrency exchange Huobi has officially shit down derivatives trading for customers in mainland China.

The closure is part of a larger winding-down of services for their Chinese user base, in accordance with the government’s efforts to restrict cryptocurrency-related services.

πŸ‘‰ Hive Blockchain Orders Further 6,500 Bitcoin Miners From Canaan

Publicly-traded cryptocurrency mining company, Hive Blockchain Technologies, has ordered 6,500 Bitcoin mining machines from Canaan.

Hive has already previously purchased more than 10,000 miners from the company, with the latest batch expected to boost their mining capacity to 2 exahash per second by December.