Popular crypto portfolio app CoinStats has secured $3.2 million to become a DeFi aggregator. Through the investment, Alex Pack’s Hack VC and Mike Dudas’ 6th Man Ventures backed the app in its goal of becoming “the front page of DeFi.” The app has 1.2 million active users who can now join DeFi protocols and directly transfer funds to earn yield rewards. Additionally, according to CoinStats, they will curate the platforms as the most profitable and safest opportunities in DeFi. Narek Gevorgyan, Founder and CEO of CoinStats said:
“With the new funds, we will accelerate our product development and growth, and deliver better financial products to our users.”
They pin up to $500 billion worth of assets, with at least $20 billion syncing directly through Exchange APIs. The CoinStats app allows users to connect crypto wallets to track the value of their assets and verify transactions. Users can also track exchange held tokens and even trade directly from the CoinStats app using exchange API keys. In 2021, they launched a CoinStats crypto wallet as a precursor to the move to DeFI aggregation. The app can even track cryptocurrencies held on exchange services like Binance Earn. All users’ wallets, exchange accounts and offline portfolios can be viewed in a single place. In addition, users with a paid subscription can start managing their portfolios for free to manage different portfolios and an increased number of transactions.
CoinStats BigBigSpark
Users of the app may also have noticed a popup announcing that they have been “zapped by the BigBig Spark”. It led you to a YouTube video scheduled for April 8th at 9:00am PDT. The chat has had people waiting and speculating about the nature of the event since it went live earlier in the week. During the event, the CoinStats team revealed their plans to integrate DeFi directly into the platform and exclusive NFTs only available to CoinStats members. Additionally, the platform has been gamified through Sparks, which are awarded to users for completing tasks like tracking their social media accounts, adding funds to their wallets, and referring friends. During the stream, Narek also hinted that Sparks could become a blockchain token in the future, with users using the tokens to pay for CoinStats memberships.
In the coming weeks, we’re speaking to Narek, CEO of CoinStats, for a video interview for our EDGE series on founders. The video will be exclusive to EDGE members and available early on in our private EDGE member Discord. Watch the full BigBig Spark Livestream below.
Posted in: DeFi, Investments 
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