Nansen to Integrate Solana for Enabling Market Intelligence November 10, 2021 November 10, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 10, 2021 by Kelly Cromley

Nansen to Integrate Solana for Enabling Market Intelligence

A new interface with Solana, a high-performance blockchain that helps developers across the globe create crypto applications that scale, has been launched by Nansen, an industry-leading blockchain data analytics platform. Users will be able to study the top-performing DeFi protocols, Smart Money movements, NFT debuts on Solana, and obtain insights into the Solana blockchain ecosystem as a whole when the new Solana dashboards on Nansen go live in the first quarter of 2019.

With millions of wallet labels, Nansen is a blockchain analytics platform that enhances on-chain data with millions of wallets. Nansen’s real-time dashboards and notifications help cryptocurrency investors identify investment possibilities, do due diligence, and protect their assets. Solana is the world’s most performant blockchain, outperforming all others.

The ability to predictably scale without sacrificing security or composability provides developers with the confidence to create for the long term. Solana’s performance is fueled by intra-shard parallelism, which is capable of processing thousands of smart contracts at the same time, as well as Proof of History, a distributed timekeeping innovation that enables low-latency, sub-second finality across the global state through distributed timekeeping.

The Solana network has already seen the introduction of more than 30 protocols, including industry-leading DeFi apps and NFT markets, and the total value of assets secured on the network has already topped $13.4 billion this month.

The Solana blockchain has enabled DeFi projects such as Raydium, an automated market maker (AMM) and liquidity provider built for the Serum decentralised exchange (DEX), to reach $1.9 billion in TVL and continue to grow. Similarly, solana-based non-fungible token (NFT) collections such as Solana Monkey Business, Degenerate Ape Academy, and Aurory have been warmly received by the crypto community, prompting cryptocurrency exchange FTX to launch a marketplace.

Nansen’s cutting-edge blockchain analytics platform enriches on-chain data with over 100 million wallet labels across the Ethereum, Polygon, Fantom, and Binance Smart Chain blockchains, enabling traders, hedge funds, institutional investors, and venture capitalists to gain actionable insights into the cryptocurrency markets.

With the help of user-friendly, simplified visual dashboards that are rich in actionable insights, it makes sophisticated on-chain data on VC money flows, exchange activity, and developing patterns in DeFi and NFTs more accessible. Using Nansen’s technology, users will be able to detect opportunities in the Solana ecosystem and get an advantage in the decision-making process.

In addition to surfacing DeFi initiatives that are gaining momentum with audiences like as hedge funds, institutions, and major active traders, dashboards such as Nansen’s “Smart Money” and “NFT Paradise” may discover and flag the newest NFT projects that are gaining popularity on Solana.

“Market intelligence and data access play an essential role in blockchain ecosystems,” stated Anatoly Yakovenko, CEO of Solana Labs. “Blockchain ecosystems rely on market intelligence and data access. It gives me great pleasure to see platforms such as Nansen adding support for Solana.”

Similar excitement was voiced by Alex Svanevik, Co-Founder and CEO of Nansen: “It’s been fascinating to see the evolution of the Solana ecosystem and how it has evolved to play such an important role in the DeFi and NFT area. The addition of in-depth Solana analytics to our platform, as well as a more comprehensive solution for keeping up with the rapidly expanding blockchain ecosystem, has been a huge success for us.” As the Solana ecosystem continues to grow, Nansen expects to play an increasingly important role in assisting investors and analysts in discovering new possibilities on the platform.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.