30s Summary
Nansen, a data analytic service, has added Solana blockchain to its platform, enabling users to access information about wallet movements and token balances, as well as gaining insight to Solana’s DeFi and NFT sectors. The analytical tools, previously available for the Ethereum Virtual Machine (EVM) blockchain, allow users to track tokens, wallets, and trading actions. However, integrating Solana, inherently different from Ethereum, was a considerable challenge due to its vast amount of data. Nansen’s co-founder, Alex Svanevik, suggests these new tools could provide an advantage in the volatile memecoin investing environment.
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Good news for all you crypto fans and blockchain buffs who’ve been keeping tabs on the Solana world. Nansen, a popular service known for using dope data analysis and wallet labeling tools, has just extended its services to Solana blockchain.
Getting all that juicy info about wallet movements, checking out token balances, and delving into Solana’s wickedly cool DeFi and NFT sectors just got easier. Nansen users can look forward to using these advanced tools, and we’ve heard it straight from the horse’s mouth – Nansen’s co-founder, Alex Svanevik.
He shared, “Finally, we’re adding Solana to Nansen. It’s been a real journey to get here, with loads of time spent to get this beast ready to go.” And it’s not just surface-level stuff, folks. According to Alex, users get to peek at the big money makers, find out the top players in profit-and-loss, and even take cues from them – now that’s worth the wait!
Nansen’s analytical tools for Ethereum Virtual Machine (EVM) blockchain have been around for a while now, helping users track tokens, wallets, and trading actions. Whether you’re curious about where the legendary Vitalik Buterin is dispatching his tokens or just exploring the blockchain galaxy, Nansen’s gotcha covered!
But analyzing data from Solana, a potential “Ethereum-killer” since its 2020 emergence, was a bigger fish to fry. Solana’s co-founder, Anatoly Yakovenko, had already hinted that this protocol stands out with a focus on high-speed, low-latency blockchain operations.
Unsurprisingly, cracking the Solana code and integrating it into Nansen’s framework wasn’t a walk in the park. We’re talking drastically different from Ethereum at the nitty-gritty technical level. Nansen couldn’t use the same tech as for an Ethereum layer-2 protocol. Plus, Solana’s booming activity over the past few years means a mountain of data.
“One big hiccup was getting analytics out quickly, which meant we had to spend loads of time fine-tuning queries. But it was worth it because now our Solana analytics provide data about everything that’s happened on the blockchain, not just bits and pieces,” wa an important point Alex made.
With memes coins being all the rage in 2024 and folks investing millions into capricious, community-driven tokens and projects, the timing of Nansen’s Solana integration couldn’t be better. Alex reckons, these new tools could offer an advantage in the wild world of memecoin investing – where trends often mean more than fundamentals.
“Memecoins don’t really have solid grounds or a white paper to check out. The main thing you should care about is what’s happening with these coins onchain…and that’s exactly where our analytics come in!” Alex added. Plus, you can peek into addresses buying specific tokens, giving you a chance to steer clear of rogues and spot the ones offering better returns.
Source: Cointelegraph