Nansen, a renowned crypto wallet analysis company, has plans to support Solana for trading “alpha” by early 2022. You can expect this addition to take place around the first quester of next year, which was announced by project leads last Tuesday during a Solana conference in Portugal.
Nansen created a name for itself by transforming the hard-coded transparency found in blockchain technology into actionable trading signals that can come in handy for clients. It utilizes a magnificent blend of heuristics in order to put a label on addresses as well as public intelligence. These addresses are typically related to banks, large investors, hedge funds, venture capitalists, and the like.
Nansen’s head of institutional sales Alexandre Caillol said in an interview with CoinDesk that their clients have been requesting Solana coverage, and it appears that the company will be giving them just that. The network’s DeFi or decentralized finance ecosystem’s value is more than $15 billion. Not only that, it has monthly active addresses of 1.2 million.
Overall, the network has potential gold mines for all the expert traders who know what they’re doing or how to read them.
That being said, being able to provide all the needed information for Solana won’t be without its challenges. This is because Solana utilizes some kind of consensus mechanism that’s different from what Nansen typically uses in its networks. What’s more, this mechanism isn’t compatible with smart contracts that are Ethereum blockchain-based.
Caillol explains that this obstacle—referring to the differing technology— is exactly why it’s taking Nansen a little longer to load Solana. Other than that, Nansen also has other plans in store for the future. As a matter of fact, Nansen reveals that the platform will also be supporting Arbitrum, Avalanche, Celo, and Optimism in the future.
