Lemniscap, an investment firm which specializes in blockchain startups and emerging crypto assets, recently has gone through a slight decrease in its weighted average asset price of 4.15% after they co-headed a seed funding round for Webb Protocol, a company which provides privacy system for cross-blockchain asset transferring.

The funds are at the moment in their total market cap of $3.75 billion, with 24-hour trading volume dominance at 0.3%. Despite the decline, Lemniscap still holds the belief that blockchain technology has the power to revolutionize the world economy and traditional industries, a notion which the establishment of the company in 2017 underscores.

During the $7 million worth of round for Webb Protocol, Lemniscap were joined by Polychain, Zeeprime, and CMS Holdings. This round of funding will assist Webb in its endeavors of enlarging its employee base and providing a simplified user experience to its customers. Using their private bridge protocol, they are looking to create a private space in cross-chain applications.

The funds will also go towards accelerating the development of technologies and protocols that keeps its customers' privacy paramount. Despite the temporary decrease in Lemniscap’s weighted average asset price, the organization are still supporting businesses which are essential to the progress of the web3 sector. Ultimately, the future of Lemniscap is still firmly pointing towards a increasingly decentralized and privacy-centric industry.



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