Blockchain

Blockchain analytics service Nansen to incorporate DeFi protocol Arbitrum

Arbitrum is currently the ninth ranked DeFi chain with $2.38 billion in total value locked.

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

Technical charts and quantitative data will be accessible to view within a bespoke Arbitrum dashboard, akin to the more than 100 million data points across Ethereum, Polygon and Binance Smart Chain, among others.

One of Nansen’s tools is Smart Money, a function that tracks the wallet addresses of hedge funds, institutional investments and whales, collating their activity into a visual graphic that enables users to determine technical patterns.

Other features of the platform include NFT Paradise and Mint Master, which provide insights into the burgeoning nonfungible token (NFT) trends before they hit the mainstream.

Earlier this month, Nansen unveiled plans to integrate a Solana dashboard in a bid to expand user’s accessibility to on-chain data and performance metrics within the DeFi and nonfungible token (NFT) markets.

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Accompanying this announcement, the Nansen team published a research paper asserting that layer-2 protocols such as Arbitrum have the potential to become market leaders in Ethereum scalability over the next five years, but also noted:

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