The blockchain analysis company Chainalysis has launched "Market Intel". A website that provides on-chain data for everyone.
Chainalysis, which specializes in crypto and blockchain analysis, has recently launched a website called "Market Intel", on which on-chain data is made available to the public free of charge. The website summarizes the most important known findings about the crypto markets.
Attract new investors with transparency
The website is primarily aimed at asset managers and financial regulators who are interested in monitoring the condition of crypto markets. The company hopes the website could bring traditional asset managers and other crypto-curious investors to the market.
The beta version of the website is already open to the public and offers daily measurement data on areas such as trading, risk, supply and demand. The data thus provide insights into how cryptocurrencies flow between different companies and regions. Bitcoin, Ethereum, Tether, Bitcoin Cash and Litecoin are currently being tracked and the data is made available to the public free of charge.
Market Intel is somewhat a response to feedback from regulators and traditional wealth managers, but also “normal” people who simply want more information about crypto markets.
The data is currently available free of charge
Chainalysis chief economist Philip Gradwell said that this project is a longer-term game. The market for advanced on-chain analysis, which Chainalysis specializes in, is pretty tight, according to Gradwell.
But if regulatory investors had better and more accessible information about crypto, they could enter the market faster. Some of them might even later be willing to pay for the information that Chainalysis is currently providing free of charge.
"For this reason, we did a lot of work to break away from the more technical blockchain metrics and make things more real," said Gradwell. For example, Chainalysis uses multiple on-chain data points, including “repeated daily patterns”, to evaluate crypto movements between regions of the world.
Track crypto flows with blockchain analytics
The company also spent a full year developing an algorithm to analyze the alternating currents from crypto to fiat - the number of people who can withdraw their cryptocurrencies compared to the flows from one cryptocurrency to another.
The website also includes indicators of risks related to the respective currencies, such as: B. the percentage of "known illegal flows".
Data from the analysis company for 2019 show that crypto hacks on crypto exchanges have increased significantly in the past year. Hackers' methods are getting better, but blockchain analysis can help determine where the money goes after the crypto hacks.
The current beta version of Market Intel will be free. Chainalysis has currently announced no plans as to whether there will be a paid version. This offer can certainly help to promote more knowledge and thus understanding about cryptocurrencies and Bitcoin. And the more people develop this understanding of the matter, the further cryptocurrencies can establish themselves and eliminate the prejudices.