Chainalysis, the blockchain analysis company, announced the launch of Market Intel, its new website designed for asset managers and regulators to access live data and insights on cryptocurrency use, and the health and growth of cryptocurrency markets. Market Intel is powered by Chainalysis’s proprietary data, which the company has been systematically collecting and linking to real world entities since 2014.
“Chainalysis was founded on the belief that financial institutions and governments need a trusted data platform to become comfortable with cryptocurrency and ultimately enable its mainstream adoption,” said Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis. “Market Intel is the next step in realizing this vision. By providing metrics and context for cryptocurrency activity, we’re empowering asset managers and regulators to leverage the transparency of blockchains to make data-driven decisions about why and how to invest in cryptocurrencies and ensure the markets function safely and efficiently.”
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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.
“Cryptocurrency is poised to become a mainstream asset class, but asset managers and regulators need data and insight into what’s actually happening in the markets to meaningfully invest and effectively oversee the space,” said Philip Gradwell, Chief Economist, Chainalysis. “With Market Intel, we’re leveraging our unique dataset to give an accurate and complete description of the real world use of cryptocurrencies, rather than providing partial, noisy data or focusing on technical blockchain metrics.”
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