Share this article
Nansen to Bring Crypto Intelligence Tools to Solana Early Next Year
Solana will be Nansen’s first “non-EVM” blockchain when it joins the platform in early 2022.
By Danny Nelson
Updated May 11, 2023, 4:43 p.m. Published Nov 9, 2021, 1:00 p.m.
Make us preferred on Google
Crypto wallet analysis company Nansen will begin sifting Solana addresses for trading “alpha” early next year.
The software company will add coverage for the Solana blockchain in the first quarter of next year, project leads said at the Solana conference in Lisbon, Portugal, on Tuesday.
STORY CONTINUES BELOW
Nansen has made a business by turning blockchain technology’s hard-coded transparency into potentially actionable trading signals for its clients. It uses a blend of public intelligence and heuristics to “label” addresses tied to hedge funds, banks, venture capitalists and large investors – the “smart money” for others to follow, so to speak.
Alexandre Caillol, head of institutional sales at Nansen, told CoinDesk that Nansen clients have been asking for Solana coverage. The network’s decentralized finance (DeFi) ecosystem is worth over $15 billion and has 1.2 million monthly active addresses – all potential gold mines for traders who know how to read them.
“It’s for the traders,” Caillol said. “They’re concerned about OK, where are the hot contracts that are coming in? Where are the yields?’”
Read more: Analytics Platform Nansen Expands to Fantom, Spotlighting Emerging DeFi Ecosystem
But getting that information for Solana isn’t quite so simple for Nansen. Solana uses a consensus mechanism that differs from Nansen’s other covered networks. It doesn’t work well with Ethereum blockchain-based smart contracts, either. Fantom, Polygon and Binance Smart Chain all do because they are compatible with the Ethereum virtual machine (EVM), Ethereum’s computation engine.
“That’s why it takes us a little while to load Solana: because it’s a different technology,” Caillol said.
Caillol told CoinDesk that support for Arbitrum, Avalanche, Celo and Optimism, which are all EVM blockchains, are also on the way.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
