Analytical company Chainalysis introduced Market Intel — a free aggregator of market data on cryptocurrencies for financial regulators and asset managers.
Market Intel provides daily metrics on cryptocurrency trading, data on supply and demand, and risk factors associated with crypto assets. The site contains data on the circulation of crypto assets between various subjects and regions. To date, the portal tracks BTC, USDT, BCH and LTC. In the future, the list of supported cryptocurrencies will be supplemented.
According to Philip Gradwell, senior economist at Chainalysis, the platform is intended for regulators and asset managers who monitor the cryptocurrency market. Regular users will also be able to use the service. We are talking about traders who are not interested in chainalysis analytical products, but want to get more information about cryptocurrencies.
Gredwell explained that Chainalysis used “recurring daily patterns”to calculate the movement of crypto assets between regions. In addition, the firm has been developing an algorithm for more than a year that allows you to generate data on the volume of cryptocurrencies converted into Fiat money, the exchange of one cryptocurrency for another, as well as the inflow and outflow of assets to cryptocurrency exchanges.
On the platform, such data will be provided without going into the technical details of the blockchain, so that metrics are clear even for beginners. Moreover, the service will allow you to determine what percentage of illegally obtained cryptocurrencies are in circulation, in storage, or placed on legitimate sites. The beta version of the site will be free,and there are no plans to charge for the information provided.
“It takes some time for a product to start meeting the needs of the market. If cryptocurrencies become significant financial assets on a par with traditional assets, our analytical product will be in even greater demand,” said the Chainalysis economist.
Recall that last month, the KuCoin exchange introduced Chainalysis KYT and Reactor tools to track suspicious transactions, and in the spring, these tools began using the p2p platform Paxful to improve the security of transactions.