22 mins ago · 2 min read
Fantom › DeFi
Data analytics on the Fantom (FTM) blockchain just got easier
Crypto analytics tool Nansen has announced its support of the burgeoning Fantom blockchain.
The Fantom Foundation has announced that blockchain data analytics platform Nansen now supports the Fantom mainnet.
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallets labels. Crypto investors use Nansen to discover opportunities, perform due diligence and defend their portfolios with our real-time dashboards and alerts.
“Nansen analytics will bring visibility to innovative projects on the network and amplify their successes,” said Fantom CEO Michael Fong in a prepared statement. “We’re excited about the increased usage Nansen will bring to Fantom and to the incredible wealth of information that the analytics platform will make available,” he added.
Why the support for Fantom?
Fantom is experiencing a period of protracted and extraordinary expansion. Developers have been eager to leverage Fantom’s high speed (1-second transaction finality) and low gas fees to power their applications.
Additionally, numerous projects like Curve, SushiSwap, and C.R.E.A.M. have taken advantage of Fantom’s EVM compatibility to port over their Ethereum solutions.
The numbers reflect this growth: at the time of writing, Total Value Locked (TVL) on DeFi protocols across the Fantom ecosystem is $2.3 billion, representing over 650% growth since
August 1, when TVL stood at $319 million. The number of unique wallet addresses has also jumped 290%, from 281,560 to 818,903 in the same period.
True to its mission statement, “Surface the signal,” Nansen distills voluminous and complex on-chain data on VC money flows, exchange activity, emerging trends, and more into user-friendly, streamlined visual dashboards rich in actionable insights.
Nansen technology to be used
Users can now leverage Nansen’s ground-breaking technologies to identify opportunities in the Fantom ecosystem and even anticipate emerging trends.
For example, by consulting Nansen’s “Token God” dashboard, users can determine which new Fantom projects and Fantom assets are drawing the attention of the smart money crowd that includes hedge funds, institutions, and large, active traders.
Other resources like “Hot Contracts” can identify the latest DeFi protocols gaining popularity or signal collections on Fantom’s newly launched Artion NFT platform that are being actively acquired.
Nansen’s services fulfill the promise of radical transparency that blockchain technologies offer. As Fantom continues to scale, Nansen looks to play a vital role in helping investors and analysts discover potential and opportunities on the Fantom network.