Chainalysis, one of the top-performing blockchain surveillance, data provider, and analytics firms launched “Market Intel.”
According to Chainalysis, Market Intel is a new website which is here to offer live data and insights to asset managers and regulators to make them understand cryptocurrency markets easily comparing to Chainalysis
The press release published on July 27 mentioned Market Intel is an online portal that would provide data insights into economic activity. The new platform is easy and simple to understand transactions registered on the blockchain.
The information reads: “Market Intel is powered by chainalysis’s proprietary data.”
Like Chainalysis provides reliable on-chain data to financial institutions and governments to enable cryptocurrency into mainstream adoption, Market Intel would follow the same dependable sources of Chainalysis’s unique dataset and offer valuable information on illicit activities and timely data insights for the health and growth of cryptocurrency markets.
“Financial crime and compliance professionals already rely on Chainalysis on-chain data – which provides insight into transactions registered on the blockchain, in contrast to self-reported order book data – to detect and investigate illicit transactions. Market Intel harnesses the same trusted dataset to provide insight into economic activity. While roughly $10 billion of cryptocurrency was transferred on-chain for illicit purposes in 2019, about that same amount is transferred on-chain every week for investment and trading.”
Philip Gradwell, Chief Economist, Chainalysis said that Market Intel would be a much easier platform to understand, unlike noisy and critical technical blockchain metrics. The end consumer would find it a much simpler and real description of the real-world use of cryptocurrencies.
“Chainalysis Market Intel provides daily on-chain metrics on the trading, demand, supply, generation, and risk of cryptocurrencies, and highlights the most important daily changes.” The information would include “how much cryptocurrency is flowing to and from exchanges, how and where in the world cryptocurrency is moving, how long supply is held, the percentage of new assets going to exchanges, the percentage of transaction volume related to illicit activity, and more.”
Good news for the public is Market Intel is not charging any cost of using the platform. The Beta is free and there is no cost to see the real-world metrics and insights. At present, the website is showing data on Bitcoin, Ethereum, Tether (on Bitcoin and Ethereum), Bitcoin Cash, and Litecoin and with time more cryptocurrencies, improved functions are to be added soon.