Nansen Announces Integration of Solana Data for the Insights for Investors

Nansen Announces Integration of Solana Data for the Insights for Investors

November 12, 2021 0 By Richard Madera

The Solana dashboard will offer extensive insights for institutional and retail investors who seek to recognize new trends in popular networks like Non-fungible Token (NFT) and Decentralized Finance (DeFi). Nansen, the blockchain data provider, has recently announced the planned integration of the said dashboard to make sure traders benefit from general insights available to them. 

The Solana function will commence in the first half of the coming year as per the preset schedule. It is geared up to augment a drastically magnificent offer, exceeding 100 million data points on-chain wallet on all leading blockchain networks, including Polygon, Fantom, Ethereum, and Binance Smart Chain. 

Nansen has many functional features. These include Smart Money that enables crypto investors to identify handy investments in rising Decentralized Finance projects. On the other hand, Mint Master with NFT Paradise aims to provide practical tools to reveal the NFT projects that get a grip in the space. 

The CEO and co-founder of Nansen, Mr. Alex Svanevik, had a word with Cointelegraph and discovered the ways to get insights into the implications to integrate Solana market intelligence statistics in the rapidly increasing NFT and DeFi sectors.  Svanvik said the Solana ecosystem observed significant growth in 2021. It has successfully drawn developers and users to enjoy its implication. This incident has made Solana support become one of the most requested features of the blockchain data provider. For that reason, it is no longer questionable that Nansen does listen to its users.  

Numerical statistics by Defi Llama unveils that the Solana blockchain accumulated 15.27 billion US dollars as Total Value Locked after a seismic year of augmentation. Solana’s native coin SOL exceeded Tether and ADA and secured the fourth-rank spot for each market capitalization. The leading protocols of the blockchain, including Marinade Finance, Raydium, and Serum TVL figure of Solana ecosystem, contributed to the record TVL figure of the system.  These contributions were $2.08 billion, $1.85 billion, and 1.86 billion in TVL, respectively. 

Likewise, CryptoSlam data highlights that Solana has third-ranking behind Ethereum and Ronin in a one-month NFT assessment of sales volume. It is worth mentioning that the ranking exposed with $117 million, which could be a consolidative era for the graph. 

Svanevik expressed his thoughts in the middle of the cultural trend in NFT and NFTs markets debut on blockchains that may serve the best as the alternative to Ethereum. He had high expectations for the NFT insights on Solana as he said it would be highly beneficial for the users. 

According to Svanevik, Solana users can now trade with due awareness. Real-time alerts on-chain will enable them to discover new opportunities, do due diligence, and protect their trading portfolios.

Lately, Solana-based NFT was in the headlines for its secondary sales that attained about $500 million since early August. CryptoSlam statistics confirmed that Solana NFTs made a total of 497.7 million U.S dollars from 348,000 transactions. The average sale per NFT tallied in at $1,500. 

According to the data, Solana observed a record month with increased secondary NFT sales volume in September, reaching a total of $189.4 million. Although some investors see Solana as an Ethereum Killer, the popularity of the Ethereum blockchain remains unbeatable. Remember, NFT secondary sales and aficionados reached on Ethereum blockchain reached $2.2 billion in September.

Solana sits at fourth in the ranking list of NFT blockchains by CryptoSlam. It secures this ranking as of one-day secondary sales volume with $1.9 million. The listing has Ethereum on the top with $37.7 million, Ronin on second with $23.5 million, whereas it sees Wax at third ranking with $4.5 million.

On the other hand, CoinGecko data highlights that the price of SOL token attained 30.3 percent cover in the past one month to be around 225 US dollars.  The SOL has brought SOL an all-time high value of $ 229.76 last week. According to the market capitalization, SOL is nearly at $68.1 billion, which makes it the fifth-largest digital asset as to total capitalization.