Chainalysis, the blockchain analysis company, has launched the new cryptocurrency data and insights portal to help understand the cryptocurrency market fundamentals.
The website called Market Intel brings free of charge access to live cryptocurrency data and insights on digital asset usage. The portal is based on data by Chainalysis, which the analytical company has collected since 2014.
As stated in a company’s blog post, Market Intel is designed for asset managers and regulators to create a wider view of both health and growth of cryptocurrency markets. According to Jonathan Levin, the co-founder and CSO of Chainalysis:
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.
According to the company, most Chainalysis products are used for compliance and investigation purposes, however, only 1% of all cryptocurrency activity is illicit transactions. In the meantime, the vast majority of it includes investment, trading, and transactions. The company thus will harness its database to provide metrics around cryptocurrency trading, supply and demand, generation, and the risk of cryptocurrencies.
Market Intel is said to provide daily on-chain metrics on the trading, demand, supply, generation, and risk of cryptocurrencies followed by the highlights of the most important daily changes. As stated in the announcement:
These actionable insights can equip investors and regulators to evaluate risks and opportunities in cryptocurrency more effectively, which will be crucial as cryptocurrency continues to become a more prominent investment vehicle.
According to the post of Philip Gradwell, Chief Economist of Chainalysis, the metrics are built on Chainalysis data, are focusing on real-world entities and include unique metrics such as flows between entities, regional flows, liquidity and illicit activity.
These metrics are built on @chainalysis data, giving completeness and accuracy. They focus on real world entities, not technical blockchain concepts, and include unique metrics, such as flows between entities, regional flows, liquidity, and illicit activity— Philip Gradwell (@philip_gradwell) July 27, 2020
The portal is currently available free of charge Beta version and allows data and insights across cryptocurrencies like Bitcoin, Ethereum, Tether, Bitcoin Cash, and Litecoin. Reportedly, the improvements and additions are planned for the upcoming future.
Chainalysis recently raised an additional $13 million to expand its series B funding round to $49 million. The blockchain analysis company which is providing data and research to government agencies, exchanges, and financial institutions is planning to use the funding to strengthen the collaboration with customers, especially the governmental ones.