Chainalysis has launched Market Intel. Market Intel is powered by Chainalysis’s proprietary data, which it has systematically collected and linked to real world entities since 2014.
“Chainalysis was founded on the belief that financial institutions and governments need a trusted data platform to become comfortable with cryptocurrency and ultimately enable its mainstream adoption,” said Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis. “Market Intel is the next step in realizing this vision. 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.”
Financial crime and compliance professionals rely on data to provide insights into transactions registered on blockchains in order to detect and investigate illicit transactions. The need is for a trusted dataset to provide insights into blockchain-based economic activity, particularly as related to cryptocurrencies with their propensity to involve criminal or other illegal activities.
Some $10Bn of cryptocurrency transferred on-chain for illicit purposes in 2019. About that same amount transfers on-chain every week now for investment and trading. Thus cryptocurrencies seem set to emerge as a mainstream asset class.
“There is a clear gap when it comes to robust institutional grade data analysis and market insights,” said Chris Tyrer, Head of Fidelity Digital Assets Europe. “In a recent survey of institutional investors, Fidelity Digital Assets found that the third-ranked obstacle to investment, after price volatility and market manipulation concerns, is a lack of data to provide insight into the health and growth of digital assets and networks.”
Chainalysis Market Intel
This new Chainanalysis Market Intel website provides daily on-chain cryptocurrency metrics on:
It will highlight the most significant daily changes. Claimed insights will include:
- how much cryptocurrency is flowing to and from exchanges
- where and how in the world cryptocurrency is moving
- how long someone holds a supply
- the percentage of new assets going to exchanges
- the percentage of transaction volumes related to illicit activity
- and more.
To accompany the website, Chainalysis is launching its Market Intel Report. This will be a weekly email summary of on-chain events and trends in cryptocurrencies. It will focus on:
- the short-term implications for cryptocurrency markets
- the long-term evolution of cryptocurrencies as an asset class.
“Asset managers and regulators need data and insight into what’s actually happening in the markets if they are meaningfully to invest and effectively oversee the space,” said Philip Gradwell, Chief Economist, Chainalysis. “With Market Intel, we’re leveraging our unique dataset to give an accurate and complete description of the real world use of cryptocurrencies, rather than providing partial, noisy data or focusing on technical blockchain metrics.”
Enterprise Times: what does this mean
Chainalysis is a blockchain analysis company which provides data and analysis to government agencies, exchanges and financial institutions. It offers:
- investigation and compliance tools
Its objective is to enable transparency across blockchains so customers can engage confidently with cryptocurrencies. Market Intel is now available with metrics covering:
- Tether (on Bitcoin and Ethereum)
- Bitcoin Cash
In beta form there is no cost for Chainalysis’ Market Data. In addition, from its website it is possible to sign up for the weekly newsletter.