Marco Manoppo, the Research Director at Digital Asset Research, notes that deal flows remained strong this past week, as the sector saw $180M+ in deals.
As noted in the update shared by Digital Asset Research, Eclipse Labs has reportedly raised a $50M Series A that has been “co-led by Placeholder and Hack VC.”
Notably, Eclipse Labs is a San Francisco-based software firm that is focused on “contributing to the development of the first Ethereum L2 using the Solana Virtual Machine.”
Other participants in the round “included Polychain Capital, Delphi Digital, Maven 11, GSR, Auros, and OKX Ventures.”
Various researchers and builders participated “as angel investors, including Barnabé Monnot (Ethereum Foundation), John Adler (Celestia Labs), Austin Federa (Solana Foundation), and ZachXBT.”
The company intends to use the funds “to expand operations and development efforts.”
In a separate update shared last week by CoinShares, it was revealed that the digital assets space continues to attract investments and interest from a diverse group of investors. In addition to interest in Bitcoin and Ethereum, major altcoins have managed to secure considerable inflows in the past year as well.
As noted in this past week’s report from CoinShares, digital asset investment products saw record weekly inflows “totaling US$2.7bn, bringing total inflow year-to-date to US$10.3bn, just shy of the record US$10.6bn inflows for the whole of 2021.”
Weekly trading turnover reached US$43bn “for the week, smashing last week’s record US$30bn. Recent price gains have pushed total assets under management (AuM) to a record high of US$94.4bn, having leapt 14% over the last week and rising 88% so far this year.”
Regionally, the US saw US$2.8bn inflows, “with Switzerland and Brazil following, seeing US$21m and US$18m inflows respectively. Canada, Germany and Switzerland all saw profit taking, with outflows of US$35m, US$77m and US$39m respectively.”
Bitcoin remained the focus of investors, “seeing US$2.6bn inflows with year-to-date inflows now representing 14% of total AuM.”
Despite recent price rises, the inflows “into short bitcoin continue, seeing a further US$11m last week.”
Solana, having endured a bout of negative sentiment “saw US$24m inflows last week. Conversely, Ethereum, which is on a much better footing on year-to-date inflows saw minor outflows of US$2.1m last week. Other notable inflows were Polkadot, Fantom, Chainlink and Uniswap, seeing US$2.7m, US$2m, US$2m and US$1.6m respectively.”
Blockchain equities saw minor outflows totalling US$2.5m.