Blockchain Analytics Provider Nansen to Add Solana Support

Blockchain analytics provider says support is coming for Solana in Q1 2021.

article-image

Source: Shutterstock

share

key takeaways

  • Nansen is seen as one of the most powerful analytics suites for blockchain, allowing users to deep dive into whales’ and institutions wallets for trading data
  • Alexandre Caillol, head of institutional sales at Nansen, told Blockworks that the platform is looking to onboard five new ecosystems every quarter going forward

Breakpoint 2021, Lisbon, Portugal — Nansen’s very specific brand of on-chain market intelligence, which allows its users to monitor the wallets of whales and institutions for actionable intelligence, is coming to Solana in the first quarter of next year, the company announced at Breakpoint. 

At the core of blockchain technology is transparency. But to the uninitiated, the data on-chain is effectively a foreign language. That’s where Nansen steps in, giving users the ability to identify wallets that belong to whales, institutions or VCs and track the flow of funds to identify trading opportunities. 

Speaking with Blockworks during Breakpoint, Alexandre Caillol, the company’s head of institutional sales, said that the $15 billion of value locked into Solana’s decentralized finance (DeFi) projects meant that Nansen’s customers were demanding the toolset be ported over — especially with the burgeoning non-fungible token (NFT) ecosystem taking place on the chain. 

“We integrate new chains from the demand of our user base. Solana was a long time coming,” he said. “Toward the end of the summer, we saw a massive influx of users mainly coming from the ‘NFT summer.’ The DeFi users are pretty active.”

Caillol said that his goal is for Nansen to become a multichain platform, adding new protocols as the user base demands it. However, porting to Solana is a first for the company as Solana doesn’t use the Ethereum Virtual Machine like Avalanche, Binance Smart Chain, or Polygon. Instead, it uses its own consensus mechanism.

Porting Nansen over won’t be an overnight process, but rather something that takes time Caillol explained. 

The plan, Caillol said, is to onboard five new ecosystems every quarter going forward to allow users to stalk the smart money no matter the platform.

“Our goal is to become multichain, and with our recent raise we can do that now,” he said.


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

Revolut said that the standalone crypto exchange is currently “invite only”

article-image

The stock price jump comes after Coinbase reported ending its seven-quarter run of net losses during the fourth quarter

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders