Claim BonusConsenSys Eyeing for A $3 Billion Valuation, MetaMask Fuelling the Growth
ConsenSys, a leading blockchain startup offering full-stack enterprise-grade Ethereum solutions, is now eyeing $3 billion valuations. People familiar with the plan briefed Financial Times regarding the same.
ConsenSys has recently profited massively with the boom in the decentralized finance (DeFi) space. Besides, it’s been leading the market for creating financial services apps and other automated software programs based on Ethereum.
Earlier this year in April, ConsenSys raised $65 million from some of the leading financial giants like Mastercard, JPMorgan, UBS, and others. The startup said that this fundraise was just part of a “formation round”. As FT reports, the next funding round could help fuel the growth for the seven-tear-old ConsenSys. It states:
The financing would mark an important milestone for the seven-year-old company led by ethereum co-founder Joseph Lubin, who has weathered several public missteps in his attempts to capitalise on blockchain technology. Lubin has made staff cuts of more than 10 percent at least twice, and ConsenSys restructured last year to split off its investment arm into a separate entity.
Furthermore, it would be the right time for ConsenSys to raise more funds since venture capitalists are quite active this year. So far in 2021, venture capitalists have poured $20.7 billion into crypto startups.
Metamask fuelling the Growth
MetaMask, an app built by ConsenSys has been one of the most popular gateways for crypto investors, to decentralized finance (DeFi). Last year, MetaMask introduced a special feature that allows users to swap pairs of digital tokens.
As per the data on Dune Analytics, MetaMask has facilitated more than $8.9 billion in trading through this feature over the last year. On each trade, MetaMask takes 0.875% of fees thus generating more than $78 million in revenues during the same period.
For now, MetaMask has more than 10 million monthly users. As per Consensys, the annualized revenue for MetaMask could surge to $1 billion over the next year.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Coinbase Directors Faces Insider Trading Lawsuit Despite Internal Clearance of Charges
- Tennessee Advances Bitcoin Reserve Bill as Strategic BTC Adoption Grows in the U.S
- CLARITY Act Set to Progress as Coinbase and Banks Meet on Monday to Resolve Stablecoin Dispute
- CLARITY Act: Coinbase’s Brian Armstrong and JPMorgan’s Jamie Dimon Clash Over Crypto Bill
- Fed Rate Cut: Trump Signals Fed Chair Pick Kevin Warsh Will Lower Rates
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
