ChainCatcher news, CoinGecko has released a new report stating that low circulation cryptocurrencies account for 21.3% of the top 300 cryptocurrencies by market capitalization. This means that 1 in 5 large-cap cryptocurrencies has most of its token supply yet to be unlocked, resulting in a market cap to fully diluted valuation (FDV) ratio of less than 0.5.It is reported that among large-cap cryptocurrencies, the 4 with the lowest circulation are Worldcoin (WLD) with a market cap to FDV ratio of 0.02, Cheelee (CHEEL) at 0.06, Starknet (STRK) at 0.07, and Saga (SAGA) at 0.09. All 4 of these cryptocurrencies with the lowest circulation were launched in 2023 or 2024.

ChainCatcher news, Web3 short video platform Cheelee has completed a $10 million financing round, with VC SILA participating (in the form of a future token agreement SAFT). The new funds will be used to accelerate the development and marketing of its vertical video social network application. Cheelee aims to drive Web3 and cryptocurrency adoption through the gaming community, allowing users to earn token rewards by watching and generating game video content with its "NFT glasses."According to the crypto data platform RootData, Cheelee is a short video platform with a Watch to Earn mechanism, meaning it pays all users who watch content. Its mission is to enable all users to earn money on social networks.ChainCatcher previously reported that the Web3 video social platform Cheelee completed an $8 million equity financing round, with participation from American investment fund Veligera Capital, UAE's Infinity Technology Fund, and VC SILA. The company also received $1.3 million in VC fund grants support. (Source link)

ChainCatcher news, Roman Alekseev, the founder of the Web3 social video platform Cheelee, announced the joint launch of a $200 million "Crypto Winter Solidarity Fund" with the Web2 mobile application NUTSon to support affected global cryptocurrency exchanges and restore the trust of a wide audience in cryptocurrency trading platforms.Roman Alekseev stated, "A stable, predictable, and healthy cryptocurrency industry benefits everyone, while turmoil and industry earthquakes only cause harm and losses." Currently, the fund is collecting information on cryptocurrency exchanges that need financial support due to market impacts to provide assistance. (Tech Bullion)

ChainCatcher news, the Web3 video social platform Cheelee has completed an $8 million equity financing, with participation from American investment fund Veligera Capital, UAE's Infinity Technology Fund, and VC SILA. The company also received a $1.3 million grant from a VC fund.It is reported that Cheelee offers new users a free "NFT glasses," which can monitor video viewing time and convert it into corresponding points based on the duration, which can then be exchanged for token rewards. Additionally, users can use Cheelee's native tokens to upgrade the glasses' features, such as memory, frame, lenses, etc. Currently, its services are in the final testing phase and are expected to be launched in the fourth quarter of 2022. (Source link)