Chainalysis Launches New Data & Insights Portal For Cryptocurrency Markets
- Market Intel’s beta is now live and can be accessed for free, with metrics and insights across some of the major cryptocurrencies.
- The product is also powered by Chainalysis’ proprietary data, an established and trusted crypto dataset used by many financial institutions.
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On July 27, Chainanalysis announced the launch of their new data and insights portal, Market Intel, a product that will aid investors and regulators in understanding the cryptocurrency markets and the risk associated with investment and trading activities.
Chainanalysis has been systematically collecting cryptocurrency data since 2014. A lot of financial crime and compliance professionals already rely on this information to detect and investigate illicit transactions, and with the introduction of Market Intel, more institutions and investors will be able to make use of the trusted dataset to gain quality insight into the economic activity.
According to the announcement, Market Intel will provide metrics for live trading, supply, demand, and generation of cryptocurrencies, while equipping investors with the required insight to evaluate risks and opportunities in the crypto environment more effectively.
“Chainalysis was founded on the belief that financial institutions and governments need a trusted data platform to become comfortable with cryptocurrency and ultimately enable its mainstream adoption,” said Jonathan Levin, Co-Founder and Chief Strategy Officer at Chainalysis.
He then proceeded to explain the features of the new product and added:
“Market Intel is the next step in realizing this vision. By providing metrics and context for cryptocurrency activity, we’re empowering asset managers and regulators to leverage the transparency of blockchains to make data-driven decisions about why and how to invest in cryptocurrencies and ensure the markets function safely and efficiently.”
Market Intel’s Beta is now launched for public use completely for free with metrics and insights across Bitcoin, Ethereum, Tether, Bitcoin Cash, and Litecoin. The company also stated that more improvements and additions will be integrated into the website over time.
Along with the website, Chainanalysis is also launching the Market Intel Report, a weekly email summary of all important on-chain events and trends in cryptocurrency, providing information on their short-term implications for cryptocurrency markets and long-term evolution as asset classes.
“With Market Intel, we’re leveraging our unique dataset to give an accurate and complete description of the real world use of cryptocurrencies, rather than providing partial, noisy data or focusing on technical blockchain metrics,” said Philip Gradwell, Chief Economist at Chainalysis.
“Cryptocurrency is poised to become a mainstream asset class, but asset managers and regulators need data and insight into what’s actually happening in the markets to meaningfully invest and effectively oversee the space.”
- While there are still two weeks to go, Chainalysis data shows October has already become the biggest month for crypto crime, with $718 million being stolen across 11 hacks.
- 2022 was also close to becoming the most profitable year for crypto criminals, with 125 hacks being responsible for the loss of $3 billion.
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- The Series F round has more than doubled Chainalysis’ valuation since last year, which is not surprising considering it has increased its customer base by 75%.
- The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
- Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform’s frontend, and not the underlying smart contract.
- The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.