Nansen, a blockchain data provider, has announced the imminent integration of the Arbitrum network. Arbitrum is now the ninth-ranked DeFi chain, with a total value locked of $2.38 billion
Nansen announces the integration of Arbitrum Network
Nansen, a blockchain data provider, has announced the imminent integration of the Arbitrum network, which will allow its global users, both retail and institutional-grade, to discover developing patterns in the decentralized finance (DeFi) industry.
Technical charts and quantitative data, such as the more than 100 million data points available on Ethereum, Polygon, and Binance Smart Chain, will be available to see on a bespoke Arbitrum dashboard.
Smart Money is one of Nansen’s products; it tracks the wallet addresses of hedge funds, institutional investments, and whales, compiling their activity into a visual chart that allows users to identify technical patterns.
NFT Paradise and Mint Master are two other platform features that provide insights into burgeoning nonfungible token (NFT) trends before they become mainstream.
Nansen announced intentions earlier this month to integrate a Solana dashboard in order to provide user access to on-chain data and performance metrics in the DeFi and nonfungible token (NFT) markets.
In conjunction with this release, the Nansen team produced a research report claiming that layer-2 protocols like Arbitrum have the potential to become market leaders in Ethereum scalability over the next five years, while also noting:
“Scaling is not enough. While increasing their transactional throughput, 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 rollups like Arbitrum.”
Arbitrum one mainnet introduced its rollup solution into the public arena on September 1 and has since risen to prominence with over $2.38 billion in total value locked (TVL), according to analytical data from DeFi Llama.
An variety of 41 protocols contributed to this ten-figure number, most notably multi-chain protocol Curve Finance, which accounted for 22.11 percent, as well as SushiSwap and Abracadabra, which recorded $525.54 million, $449.84 million, and $401.67 million in TVL, respectively.
Along with compelling insights into Arbitrum’s low transaction costs and gas fees in comparison to Ethereum — the latter of which is approximately 80-90 percent lower — Nansen’s research paper also commented on the possibility of an Arbitrum native token launch, a topic of discussion that has gained significant traction in recent months due to positive adoption.
Andy Chorlian, the inventor of Fractional Art, recently revealed his thoughts on this topic, claiming that an Arbitrum token will certainly boost the protocol over the surging layer-one blockchain Avalanche, which presently ranks 11th in total market capitalization rankings.
If arbitrum had a token it would be crushing avax— andy (@andy8052) November 19, 2021