Chanalysis, the well-known blockchain analytics firm, has launched a new website, dubbed Market Intel. This site is developed with financial regulators and asset managers in mind, who are keen to monitor the crypto markets and their overall health.
Serving A New Niche
The website itself is still in beta version, but is free and open for use by the public at large. This site will provide daily metrics regarding the demand, trading, generation, supply, insights, and risks regarding cryptocurrencies, and how they’re flowing between regions and entities. As it stands now, the site is tracking a handful of cryptocurrencies: Ethereum, Bitcoin, Bitcoin Cash, Tether, and Litecoin.
Market Intel stands, in a couple of ways, as a response from various pieces of feedback Chainalysis has received. Particularly those of traditional asset managers, regulators, as well as everyday people from ordinary walks of life. These people aren’t really interested in the most sophisticated blockchain analytics solutions that Chainalysis can provide, but are still interested in the crypto markets and information about it. This comes from an interview that Philip Gradwell, the Chief Economist of Chainalysis, did with The Block, a crypto media news outlet.
Playing The Long Game
This stands as a long-term play from the data aggregator, as well. The level of sophisticated on-chain analytics that Chainalysis provides has a rather narrow market, Gradwell explained. However, the hope is that if you provide more information about crypto as a whole to regulator investors, they’d be more keen to enter the market. Should they enter the market, however, they may even be willing to pay for a level of information more in-depth than what Market Intel provides.
Gradwell explained that this stands as to why Chainalysis has put in all the work needed to try and get away from the more technical aspects of blockchain analytics. Instead, Market Intel provides information in a more real-world sort of way. An example of this would be how Chainalysis uses several on-chain data points to estimate flows between world regions, including that of repeated diurnal patterns.
Many Measurements To Consider
Furthermore, the firm spent a year in the development of an algorithm that can estimate exchange flows from crypto-to-fiat. This signifies how many people are cashing out, as opposed to flows from one form of crypto to another, as Gradwell explained it.
Intel Market will also track indicators of risk that have become associated with specific currencies. This includes the “known illicit flows,” which stands as a percentage of total flows. This metric consists of the known illicit funds held, as well as the known illicit funds that were placed in legal services.