Blockchain data provider Nansen has announced the upcoming integration of the Arbitrum network to allow its global users, both retail and institutional, the ability to identify emerging trends in the decentralized finance (DeFi) market.
Technical charts and quantitative data will be accessible for viewing within a custom Arbitrum dashboard, similar to the 100+ million data points on Ethereum, Polygon, and Binance Smart Chain, among others.
One of Nansen’s tools is Smart Money, a feature that tracks the wallet addresses of hedge funds, institutional investments, and whales, grouping their activity into a visual graph that allows users to determine technical patterns.
Other platform features include NFT Paradise and Mint Master, which provide insight into burgeoning trends in non-fungible tokens (NFTs) before they hit the mainstream.
Earlier this month, Nansen unveiled plans to integrate a Solana dashboard in an attempt to expand user accessibility to on-chain data and performance metrics within the DeFi and non-fungible token (NFT) markets. .
Along with this announcement, Nansen’s team published a research paper claiming that Layer 2 protocols like Arbitrum have the potential to become the market leader in Ethereum scalability over the next five years, but also noted:
“Climbing is not enough. While increasing their transactional performance, blockchains must preserve two fundamental properties of blockchain technology: decentralization and security. This is known as the blockchain trilemma. As of today, the only Ethereum scaling solution that satisfies all three elements is cumulative packages like Arbitrum. “
Arbitrum One mainnet released its cumulative solution into the public domain on September 1, and has since gained prominence with more than $ 2.38 billion in total blocked value (TVL) according to analytical data from DeFi Llama.
This sum of 10 figures has been contributed by a series of 41 protocols, among which the multi-chain protocol Curve Finance stands out, which represents 22.11%, in addition to SushiSwap and Abracadabra, which have registered USD 525.54 million, USD 449.84 million and USD 401.67 million in TVL, respectively.
Along with compelling information on Arbitrum’s low transaction costs and gas fees compared to Ethereum, the latter of which is substantially lower by about 80-90%, Nansen’s research paper also commented on the possibility. from an Arbitrum native token launch, a topic of discussion that has gained significant traction in recent months amid positive adoption.
Fractional Art founder Andy Chorlian shared his perspective on this debate, suggesting that an Arbitrum token would likely push the protocol above layer one blockchain Avalanche, which is currently ranked 11th in the overall capitalization ranking of market.
If arbitrum had a token it would be crushing avax
– andy (@ andy8052) November 19, 2021
If arbitrum had a token, it would crush avax
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