Nansen’s Bitcoin Analytics Reveal 42% Transactions Increase
Blockchain analytics platform Nansen announced the launch of its Bitcoin (BTC) chain analytics to bring real-time, detailed insights into flagship cryptocurrencies, enabling users to track key chain metrics in the platform.
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Nansen brings real-time chain analysis to Bitcoin
On Thursday, Nansen Introduced Its Bitcoin Growth Dashboard provides detailed introduction to the market movement of flagship cryptocurrencies and addresses the lack of user-friendly tracking tools for in-depth market analysis.
The analytics platform notes that it is difficult to check the Bitcoin network at the same level as other blockchains, as most tools use “outdated address tags, fragmented data, or require advanced technical skills to extract meaningful insights”.
As a result, the new Bitcoin Chain Analytics aims to achieve the same data for the Nansen user on Ethereum and other blockchains by enabling traders, institutions and analysts to monitor active addresses, transactions and transactions, transactions and analysts. Depth” major entities interact on the network.
Nansen CEO Alex Svanevik shared his excitement for Bitcoin analysis and explained that users can use the platform to monitor detailed key BTC BTC chain metrics:
Bitcoin is the most important asset in cryptocurrencies and we are excited to finally bring Nansen’s industry-leading analysis to BTC. With our platform, users can now track Bitcoin’s key OnChain metrics with the same level of detail and precision as expected for Nansen.
The new data summary will allow users to see the mobile BTC’s most BTC communications and entities to resolve “guess” trade Peaks are retail-driven, institutional-driven or reshuffled exchanges.
Users can also observe BTC’s liquidity and supply transfers in real time to identify key trends before investing in a wider market. Additionally, they can track sentiment in the cryptocurrency market through address activity data, providing users with “a new way to measure Bitcoin adoption and investor sentiment.”
BTC trading see 42% daily
Nansen’s new Bitcoin chain analysis reveal Dominance and change in exchange network activities. According to the analytics platform, the largest Bitcoin active entities include some of the world’s largest crypto exchanges.
Data show that Binance, Bybit, Okx, Robinhood and Kucoin are one of the top 5 exchanges for BTC active. Binance mainly tracked BTC trading activity with 40.68%, followed by Bybit’s 23.36% and OKX’s 18.88%.
Meanwhile, Nansen pointed out that Robbie Linshid continues to be a key Bitcoin custodian with a share of 8.72%. It also noted that network trends show significant transaction peaks between April 2024 and June 2024, which may be driven by institutional relocation, major market events and changes in mining behavior.
The amount of Bitcoin has been valid for the past 24 hours address It has fallen by 16.82% to around 462,390, indicating slowing network activity. The number of active addresses has hovered between 335,000 and 668,000 since September, and has exceeded 600,000 points several times since the November U.S. election.
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Nevertheless, BTC trading has grown 42.33% over the past day, soaring to about 453,600, indicating the demand for block space.
Finally, the on-chain analytics platform also revealed that it will introduce BTC’s token model and Nansen Profiler in the next few weeks to provide “more in-depth insights into wallet behavior, transaction flows and market trends.”
Featured images from Unsplash.com, charts from TradingView.com
