​​Nansen Launches Token and Wallet Tracking Tools for Solana Analytics

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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October 17, 2024 08:26 EDT

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Blockchain analytics platform Nansen has launched token and wallet tracking tools to help investors analyze Solana’s on-chain data.

The tools will give insights into Solana’s decentralized finance (DeFi) and NFT ecosystems, surpassing many of the existing analytics platforms for the network, said the firm.

Nansen said the tracking tools will give a competitive edge to investors, helping them monitor wallet movements, track token balances, and conduct deep analysis.

“Nansen’s Solana integration is the next step in delivering the best blockchain analytics in the market,” said Alex Svanevik, CEO of Nansen in a statement.

“By offering in-depth token and wallet-level data, we’re giving investors the tools they need to navigate Solana with confidence. This launch marks a pivotal moment for Web3 analytics,” said Svanevik.

Solana Sees Explosive Growth

Solana, one of the fastest-growing blockchain ecosystems, has seen explosive growth in DeFi and NFTs. However, analytics tools for Solana have historically lagged behind those for other blockchains like Ethereum.

Nansen has seen a gap in the market. While existing tools provide adequate macro and micro-level data, they lack the depth of wallet-level analysis and real-time tracking necessary for investors to make informed decisions.

Nansen said its solution to this problem is its comprehensive wallet attribution and data analysis, designed to offer actionable insights across Solana’s blockchain.

The new tools include features such as Wallet Profit and Loss (PnL) tracking, which allows users to manage their portfolios effectively, and the ‘Signals’ feature, which uses AI to surface on-chain insights and identify market trends.

Additionally, Nansen said it offers a Token Screener for in-depth token performance insights and Smart Money tracking to follow the activities of institutional investors and high-performing “whales.”

One of the standout aspects of Nansen’s integration is its focus on token and wallet-level analytics. This enables users to track real-time balance changes and asset flows across the Solana ecosystem, helping detect trends and opportunities.