Zeta Markets Secures $5 million For Solana DeFi Expansion

cryptodailyPublished on 2024-05-07Last updated on 2024-05-14

Zeta Markets Secures $5 million For Solana DeFi Expansion 4

Zeta Markets Secures $5 million For Solana DeFi Expansion

Decentralized exchange (DEX) for perpetual trading Zeta Markets has completed a strategic $5 million funding round for Solana DeFi expansion.

The funding was led by Electric Capital and with contributions from DACM, Selini Capital, Airtree Ventures, and several notable angel investors, including Anatoly Yakovenko of Solana.

The fresh capital will facilitate the development of Solana’s first layer-2 solution by Zeta Markets, focused on decentralized finance (DeFi). The layer-2 rollup will integrate central limit orderbooks and enable seamless bridging from Solana, leveraging the expanding DeFi liquidity pool.

Therefore, the goal is to match the efficiency of centralized exchanges while preserving the security and self-custodial features inherent to decentralized platforms.

“We are incredibly grateful for the support of Electric Capital and our new investors who doubled down on our vision despite the uncertainty of the bear market,” stated Tristan Frizza, founder of Zeta Markets. 

See Also: Crypto Exchange OKX Enters Australian Market, Offering Spot And Derivatives Trading

“At Zeta Markets, our aim is to craft the ultimate one-stop trading platform, where users can benefit from the transparency of DeFi without having to sacrifice convenience and speed. This fundraise helps accelerate our current momentum and deliver an order of magnitude improvement via a ground-up redesign of our DEX.”

This investment increases Zeta Markets’ total funding to $13.5 million. Moreover, Zeta Markets recently crossed $6 billion in aggregated trading volume and over 100,000 monthly active users.

“We are thrilled to see the Zeta Markets team deepen their commitment to Solana with the unveiling of their ambitious L2 roadmap. We have seen firsthand their perseverance through the bear market and their commitment to the Solana ecosystem,” said Avichal Garg, co-founder and general partner of Electric Capital. 

“The Zeta team’s focus on building high-quality, decentralized solutions that solve real problems for users has resulted in tremendous momentum this year. After launching, they have been 50% of the perp volume on Solana for many days. We are proud to continue to support them as they broaden their vision beyond their successful DEX.”

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

 

The post Zeta Markets Secures $5 million For Solana DeFi Expansion appeared first on BitcoinWorld.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read on Bitcoinik Investment Disclaimer

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
CapricornAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
cake
PancakeSwapCAKE
dos
DAPPOSDOS

Related Reads

Multicoin Exits Forward, the Largest Solana Treasury Company, After Just 8 Months of Joint Establishment

Investment firm Multicoin Capital has fully exited its position in Forward Industries, the largest publicly traded Solana treasury company, according to SEC filings. Multicoin, alongside Galaxy Digital and Jump Crypto, was a founding investor when Forward launched its Solana treasury strategy in 2025, raising $1.65 billion. The exit, completed via a series of transactions over recent months, transfers the remaining stake to entities controlled by Kyle Samani, Multicoin's co-founder and former managing partner who resigned in January but remains Forward's Chairman. The divestment follows a public divergence in strategy between Samani and Multicoin, highlighted by a dispute over support for a competing blockchain initiative in July. Despite Multicoin's institutional exit, Forward continues to execute its core Solana strategy, significantly increasing its SOL holdings throughout Q3 2026 and repurchasing its own shares. The company reported a net loss for the quarter due to SOL price declines but is now seeking to diversify its revenue sources beyond direct SOL exposure through potential acquisitions and investments within the Solana ecosystem.

marsbit30m ago

Multicoin Exits Forward, the Largest Solana Treasury Company, After Just 8 Months of Joint Establishment

marsbit30m ago

Ireland plans industry standards for illicit crypto use

The Irish government has published its first comprehensive National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy. It outlines new measures to regulate digital assets and crypto-asset service providers to prevent their use for illicit activities. Key proposals include introducing Anti-Money Laundering and Counter-Terrorist Financing obligations for crypto service providers, requiring enhanced checks on transfers to and from private crypto wallets, and stricter due diligence for dealings with overseas crypto firms. The strategy also plans to address industry standards concerning the acceptance of crypto-related funds for gambling. This follows a recent national risk assessment on crypto, with Ireland aiming to implement these industry standards by the second half of 2027. The legislation aligns with the EU's Markets in Crypto Assets (MiCA) regulatory framework.

cointelegraph4h ago

Ireland plans industry standards for illicit crypto use

cointelegraph4h ago

Grayscale: "If the Proposals Are Adopted, the Prices of These Two Altcoins Could Rise"

Grayscale's Head of Research, Zach Pandl, stated that proposed changes to the tokenomics of Ethereum ($ETH) and Solana ($SOL) could significantly slow their supply growth rates, potentially boosting prices. The discussed code modifications aim to reduce the annual inflation of ETH and SOL tokens. Slower supply growth could decrease the number of new tokens entering the market, increasing scarcity. Grayscale estimates that if implemented, Ethereum's annual supply inflation could fall to about 0.4% by late 2031—close to Bitcoin's rate—while Solana's could drop to roughly 1.1%. For context, this compares to gold's ~1.8% annual supply growth and the US CPI inflation of ~3.3%. While the proposals are still under community discussion and not finalized, Pandl noted that Solana's changes appear to have broader support and a higher likelihood of adoption. However, lower token inflation might also reduce staking rewards, as a significant portion comes from new token issuance. Pandl concluded that the reduced supply could increase scarcity and upward price pressure, particularly benefiting investors holding non-staked tokens.

cryptonews.ru4h ago

Grayscale: "If the Proposals Are Adopted, the Prices of These Two Altcoins Could Rise"

cryptonews.ru4h ago

Experts Named Reasons for Bitcoin's Decline After US Inflation Drop

Despite favorable U.S. inflation data in July, Bitcoin failed to rally and instead declined. Analysts from CryptoQuant identify weak spot market demand as the primary cause. After the data release, Bitcoin briefly dropped from around $64,500 to $63,000. While the Producer Price Index (PPI) was better than expected, and U.S. stock indices rose, Bitcoin remained stuck in a range. Key indicators point to subdued demand: capital inflows into U.S. spot Bitcoin ETFs remain low, and the Coinbase Premium Index has been negative since May, indicating limited buying pressure from American investors. In contrast, positioning in the futures market remains relatively high, creating an imbalance of weak spot demand, low liquidity, and significant leveraged positions. Analysts warn that under these conditions, even positive macroeconomic news may not spur growth. If the price doesn't react to a favorable backdrop, traders might start closing margin longs, adding further downward pressure. A key resistance level is identified at $68,700, the approximate cost basis for short-term holders, which could trigger selling. For a sustained rally to resume, CryptoQuant states the market needs: renewed capital inflows into U.S. Bitcoin ETFs, the Coinbase Premium Index turning positive, an increase in spot trading volumes, and a decisive break above $68,700.

cryptonews.ru5h ago

Experts Named Reasons for Bitcoin's Decline After US Inflation Drop

cryptonews.ru5h ago

Bitcoin Price Drops to $62,470 as Sellers Retest $63,000 Support Level

Bitcoin's price fell below $63,000 for a second consecutive day on Friday, hitting an intraday low of $62,470. The cryptocurrency later recovered to trade just above $63,000, leaving it nearly flat for the past 24 hours and for August overall, with a weekly loss of 2.6%. The volatility triggered significant liquidations, with $26 million of leveraged long Bitcoin positions liquidated over 24 hours. Market sentiment was further dampened by data showing over $131 million in outflows from spot Bitcoin ETFs for a second straight day, signaling a potential pullback by institutional investors. Adding to the negative pressure, index provider MSCI has proposed new criteria for "non-operating companies" in its global indexes, which could lead to the exclusion of firms holding significant digital assets like Bitcoin on their balance sheets. Companies such as Strategy and Metaplanet could be affected, potentially forcing index-tracking funds to sell their shares. Strategy publicly criticized the proposal, arguing digital assets are legitimate assets and index providers should not dictate what companies can own. Public consultations on MSCI's proposal end September 30, with a final decision expected by October 16. If approved, exclusions could begin in November, potentially triggering sustained institutional selling and damaging a key bridge for Bitcoin adoption in the corporate sector.

cryptonews.ru5h ago

Bitcoin Price Drops to $62,470 as Sellers Retest $63,000 Support Level

cryptonews.ru5h ago

Trading

Spot

Hot Articles

How to Buy ZETA

Welcome to HTX.com! We've made purchasing ZetaChain (ZETA) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy ZetaChain (ZETA) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your ZetaChain (ZETA)After purchasing your ZetaChain (ZETA), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade ZetaChain (ZETA)Easily trade ZetaChain (ZETA) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

2.4k Total ViewsPublished 2024.03.29Updated 2026.06.02

How to Buy ZETA

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ZETA (ZETA) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow