Hassan Maishera
ConsenSys wants to be valued at $3 billion
A new report by The Financial Times has revealed that New York-based ConsenSys wants to raise funds to reach a $3 billion valuation. This latest development comes a few months after it raised $65 million from investors such as JPMorgan.
According to the latest report, the blockchain company is in talks about a funding round that would value it at $3 billion. However, the investors that would participate in the funding round are still unknown.
ConsenSys is one of the leading blockchain projects in the world. It has become popular for developing and investing in Ethereum-based projects. Although it is unclear who the investors would be, ConsenSys would likely use the funds to expand its presence in the blockchain and cryptocurrency space.
The Ethereum network is currently in the process of migrating to the proof of stake protocol. The migration is expected to solve some of the blockchain’s problems, such as high gas fees and low scalability. Migrating to the PoS protocol could see more projects launch their services on the Ethereum network.
ConsenSys could also play a crucial role in the Ethereum network moving forward as it could launch more projects and invest in others to do so in the coming months and years.
Ethereum remains the second-largest cryptocurrency by market cap. It is currently trading above the $3,500 level as the broader crypto market recovers from the losses recorded earlier this year. If ETH can continue with its recent performance, it could reach its all-time high price of around $4,500 soon and even rally higher in the coming weeks and months.
