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The blockchain analytics platform Nansen has introduced tools for tracking tokens and wallets to assist investors in examining Solana’s on-chain information.
According to the firm, these tools will provide insights into Solana’s decentralized finance (DeFi) and NFT sectors, outpacing many current analytics platforms available for the network.
Nansen stated that these tracking tools will offer a strategic advantage to investors, enabling them to observe wallet activities, monitor token balances, and perform thorough analyses.
“Nansen’s integration with Solana represents the next phase in providing the leading blockchain analytics available,” commented Alex Svanevik, CEO of Nansen, in a statement.
“By delivering detailed token and wallet-level data, we’re equipping investors with the resources they require to explore Solana confidently. This launch signifies a crucial moment for Web3 analytics,” Svanevik added.
Hearing Solana launches later today
https://t.co/dk2rHuzGvF
— Nansen
(@nansen_ai) October 17, 2024
(@nansen_ai) October 17, 2024Solana Experiences Rapid Expansion
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Solana, regarded as one of the fastest-expanding blockchain ecosystems, has experienced rapid growth in DeFi and NFTs. Nevertheless, analytics tools tailored for Solana have traditionally fallen short compared to those available for other blockchains like Ethereum.
Nansen has identified a gap in the marketplace. While current tools offer sufficient macro and micro-level data, they lack the comprehensive wallet-level analysis and real-time tracking essential for investors to make well-informed choices.
Nansen indicated that its answer to this challenge is its all-encompassing wallet attribution and data analysis, crafted to provide actionable insights across Solana’s blockchain.
The new tools feature functionalities such as Wallet Profit and Loss (PnL) tracking, enabling users to effectively manage their portfolios, as well as the ‘Signals’ feature, which leverages AI to highlight on-chain insights and pinpoint market trends.
Moreover, Nansen mentioned it provides a Token Screener for detailed token performance insights and Smart Money tracking to monitor the activities of institutional investors and high-performing “whales.”
A notable element of Nansen’s integration is its emphasis on token and wallet-level analytics. This allows users to monitor real-time balance fluctuations and asset movements throughout the Solana ecosystem, aiding in the identification of trends and opportunities.
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