Crypto

Nansen’s blockchain analytics service to integrate DeFi Arbitrum protocol – maniac geek

Blockchain data provider Nansen announced the upcoming integration of the Arbitrum network to enable its global users, both at the retail and institutional level, to identify emerging trends in the decentralized finance (DeFi) market.

Technical charts and quantitative data will be accessible on a custom Arbitrum dashboard, similar to the 100+ million data points on Ethereum, Polygon, and Binance Smart Chain, among others.

One of Nansen’s tools is Smart Money, a feature that tracks portfolio addresses for hedge funds, institutional investments, and whales, aggregating their activity on a visual graph that allows users to determine technical patterns.

Other platform features include NFT Paradise and Mint Master, which provide insight into burgeoning trends in non-fungible tokens (NFTs) before they go mainstream.

Earlier this month, Nansen unveiled plans to integrate a Solana dashboard with the goal of expanding user accessibility to on-chain data and performance metrics in DeFi and non-fungible token markets (NFTs).

To accompany this announcement, Nansen’s team released a research paper stating that Layer 2 protocols like Arbitrum have the potential to become market leaders in Ethereum scalability over the next five years, but also noted:

“Climbing is not enough. While increasing the performance of your transactions, blockchains must preserve two fundamental properties of blockchain technology: decentralization and security. This is called the blockchain trilemma. To date, the only Ethereum scaling solution that satisfies all three elements are stacks like Arbitrum.

Arbitrum One mainnet released its cumulative solution into the public domain on September 1 and has since gained prominence with more than $ 2.38 billion in fixed total value (TVL) according to data from DeFi Lama.

That 10-figure sum was driven by a suite of 41 protocols, including the Curve Finance multi-chain protocol accounting for 22.11%, plus SushiSwap and Abracadabra, which recorded $ 525.54 million, $ 449.84 million, and $ 401 million. , 67 million dollars in TVL. . , respectively.

Related: Binance Opens Layer Two ETH Deposits With Arbitrum One Integration.

Along with compelling information on Arbitrum’s low transaction costs and gas fees compared to Ethereum, the latter being significantly lower at around 80-90%, Nansen’s research article also commented on the possibility of a launch. of native Arbitrum token, a topic of discussion that has gained traction in recent months amid positive adoption.

Fractional Art founder Andy Chorlian recently shared his take on this debate, suggesting that an Arbitrum token would likely push the protocol above the first layer of the Avalanche blockchain, which is currently ranked 11th. total market capitalization.

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