Blockchain service provider Nansen to integrate Solana data analytics

Blockchain data provider Nansen has announced the planned integration of a Solana dashboard to provide extensive insights to institutional and retail investors seeking to identify emerging trends in the networks like decentralized finance (DeFi) and nonfungible token (NFTs) markets.

Scheduled to commence in Q1 of 2022, the Solana function is set to augment an already impressive offering of over 100 million on-chain wallet data points across leading networks, Ethereum, Polygon, Fantom and Binance Smart Chain.

Nansen's popular features, such as Smart Money enable investors to recognize investments in emerging DeFi projects across a panoply of investor types, whilst NFT Paradise and Mint Master provide tools to uncover NFT projects gaining traction in the space.

Cointelegraph spoke to the Co-Founder and CEO of Nansen, Alex Svanevik, to gain exclusive insight into the implications of integrating Solana market intelligence data in two rapidly emerging sectors, DeFi and NFTs:

“The Solana ecosystem has grown a lot this year, attracting both developers and users. This has led to Solana support becoming one of Nansen’s most requested features. So, the short answer is that we simply listen to our users.”

Related: Solana secondary NFT sales reach half a billion dollars in three months

According to numerical data from DeFi Llama, the Solana blockchain has amassed $15.27 billion in total value locked (TVL) following a seismic year of growth. On Monday, Solana surpassed top-10 stalwarts  Tether (USDT) and Cardano (ADA) to secure the fourth-ranking spot as per market capitalization.

Solana's record TVL figure has been contributed to by the blockchain's prominent leading protocols, Raydium (RAY), Marinade Finance (MNDE) and Serum (SRM), which record $2.08 billion, $1.86 billion and $1.85 billion in TVL, respectively.

Similarly, data from Cryptoslam reveals that Solana ranks third behind Ethereum and Ronin in a 30-day assessment of NFT sales volume coming in just shy of $117 million, a consolidative period for the chart.

Amid the cultural trend in NFT's and NFT marketplaces launching on alternative blockchains to Ethereum, Svanevik also shared his expectations for the user-benefit of NFT insights on Solana:

“With Nansen, Solana users will no longer have to trade in the dark. They’ll be able to discover opportunities, perform due diligence, and defend their portfolios by receiving real-time on-chain alerts.”