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Summary
- Nansen Crypto can be defined as an analytics platform for Ethereum.
- Ethereum is a blockchain platform, which has open access to digital money and related services for all.
- On-chain deals can be defined as transactions that happen on the blockchain and depend on it for its validity.
Nansen Crypto can be defined as an analytics platform for Ethereum, which combines data on chain with an ever-growing database that has millions of wallet addresses. It was established in April 2020 as a subscription-based product, which was developed by Alex Svanevik. On-chain deals can be defined as transactions that happen on the blockchain and depend on it for its validity. So, the deals are valid only when the blockchain has been updated to show the latest deals on the public ledger. The blockchains refers to the radical transparency; it provides direct access to the investor about the real time figures and facts of market which are not available in traditional market.
Ethereum is a blockchain platform, which has open access to digital money and related services for all. It has a community-built technology and has its own cryptocurrency called Ether or Ethereum. Ethereum also has its own programming language -- Solidity. As of May 2021, it is No. 2 in market value after Bitcoin. Nansen has become the leading provider of data for the Ethereum cryptocurrency. Wallet labels of Nansen are based on the different sources, including smart-contract parsing and analysis, web scraping, Heuristics, machine learning, investigations and research by the company and users’ feedback. Around 99% of Nanson labels are algorithmically inferred.
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The radical transparency of Nansen has both merits and demerits. Talking about its demerit, some entities may hide their movements including investments, trades and purchases that may lead to lack of privacy to some extent. On the other side, transparency develops a high degree of investor's trust as they have direct access to the market data of entities that would be an advantage. Traders of crypto currency use Nansen to surface the signal in blockchain data of Ethereum wallets and their activity.
Nansen helps in taking investment decision through 90M+ labeled wallets that provides information related to the flow of tokens, ETH, and stablecoins. Nansen provides detailed summary of funds whether moving ahead or not through tracing funds, exchanges and token teams. With Nansen, investors can see precisely which entities may buildup or selling off a specific token. Token metrics are available on liquidity, usage and engagement that will help in taking informed decision about the investment.
Ethereum data provider Nansen raised US $1.2 million in a seed funding round, which was dominated by Mechanism Capital and Skyfall Ventures, with participation from Robot Ventures, Volt Capital, and Fabric Ventures, among others. Individual investors also participated in the round, which included FTX's Anthony Yoon, Ethereum developer Eric Conner, Deribit's Sergei Chan and Kevin Hu of Dragonfly Capital.
Nansen also notify about specific events through its smart alert service. Nansen includes information of both past and present about ENS ownership. Existing client base of Nansen include professional investors in the crypto space and the blockchain, such as market makers, trading desks and hedge funds, where individual crypto investors and crypto teams such as MakerDAO and Synthetix (protocol developers) are present.
