Nansen's First Foray into Bitcoin Analytics with Bitlayer Integration
11 Nov 2024
Singapore, 11 November 2024 – Bitlayer, the first Bitcoin Layer 2 based on Bitcoin finality, today announces its partnership with Nansen, the leading provider of blockchain analytics, to deliver premier on-chain data and analytics to the crypto community. The integration aims to provide Web3 investors with the network’s detailed on-chain data and offer better tools for Bitlayer analytics.
The Bitcoin ecosystem is burgeoning with growth potential, attracting a multitude of traditional financial institutions to participate, particularly in the Bitcoin L2s space. Bitlayer, being the first Bitcoin L2 Network supported by Nansen, signifies its achievements and leadership in this space.
Bitlayer innovatively proposed and implemented OpVM, a future-proof Bitcoin Layer 1 verification solution that combines fraud proofs (BitVM) and validity proofs (based on OP_CAT). This solution significantly enhances the security level of various protocols within the Bitcoin ecosystem, enabling the Bitcoin Layer 1 to verify arbitrary computations.
Since launching its mainnet V1 in April, Bitlayer has gained significant traction, with over 280 projects deployed and a total value locked (TVL) of $733,496,912. Moreover, Bitlayer has established itself as a core ecosystem partner for over 30 Web3 platforms, fostering collaboration and shared growth.
“We are thrilled to partner with Bitlayer and contribute to the advancement of the BTC Layer 2 ecosystem,” said Alex Svanevik, CEO of Nansen. “Our collaboration with Bitlayer is a testament to our commitment to empowering blockchain communities with actionable data. By extending our analytics capabilities to Bitlayer, we aim to support its users and drive further adoption within the BTC L2 landscape. This aligns with our mission to surface the signal and create winners.”
“With the rapid development of the Bitcoin ecosystem, our users need some advanced tools and platforms to track the Bitcoin system and data at both the macro and micro levels. Nansen’s Bitlayer integration reponds to the gaps that currently exist in Bitcoin’s analytics landscape. “ – Charlie, Co-founder of Bitlayer.
Users will have access to the Bitlayer Dashboard
With this partnership, Bitlayer aims to strengthen its analytics capabilities, offering its users a clearer understanding of network activity, trends, and growth opportunities. In the following months, the Bitlayer Growth and Query Dashboard will be live, containing key insights on activity and performance in the Bitlayer ecosystem.
Here are just a few of the exciting new features we have to look forward to:
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Powerful Analytics Tools: Nansen provides powerful analytics tools that allow Bitlayer users to track and organize data in-depth. These tools include dashboard features that enable users to monitor projects, token holdings, identify key participants such as well-known institutions, and track their recent buying and selling trends.
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Address Tagging and Categorization: Nansen uses algorithmic recognition to assign special category labels to addresses, such as “Smart Money” or “Whales,” helping Bitlayer users to tag user profiles and identify users with significant funds and historical performance.
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Real-time Data Streams: Nansen provides real-time data streams that help Bitlayer users stay informed about the latest transactions and events. Users can use this data to understand recent token sales or NFT transactions.
This integration with Nansen represents just a small step forward. With the rapid development of Bitlayer, we anticipate an increasing number of integrations and the emergence of new tools within the Bitlayer ecosystem in the future.
About Nansen
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallet labels, empowering crypto investors with real-time dashboards, insights, and alerts to uncover opportunities, perform due diligence, and defend their portfolios.
Visit https://nansen.ai to learn more.
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 based on Bitcoin finality.
Bitlayer provides developers and users with a native Bitcoin Layer 2 environment through its innovative technologies including OpVM, Finality Bridge, and RtEVM. This platform ensures Bitcoin-equivalent security, a trustless cross-chain bridge, and a real-time EVM programming environment.
For inquiries or comments contact [email protected].
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