Chainalysis, a blockchain analytic company, has launched a market intelligence website for monitoring crypto markets. The free public website is intended for regulators and asset managers.
Dubbed Market Intel, the new website will provide a steady stream of valuable insight into the crypto market. Some of the vital information it will provide includes trading volumes, risks, supply and demand, and the flow of assets. At the moment, the website only tracks five crypto assets. They are Bitcoin, Ethereum, Tether, Bitcoin Cash, and Litecoin. They represent the 1st, 2nd, 3rd, 5th, and 8th largest cryptocurrencies by market cap respectively.
Market Intel’s simplicity is completely different from Chainalysis’s usual sophisticated products. The website, which is a beta version, is easy to understand and does not require technical skills to use. According to Philip Gradwell, the chief economist at Chainalysis, the website is in response to a cry for simplicity by financial regulators and asset managers.
The free website also serves as a gateway for exploring its more sophisticated products. At the moment, due to its complexity, the market for its flagship products is small. Chainalysis hopes that its target audience will be willing to pay for the premium version sometime in the future.
The website also has a unique feature that will allow regulators to track all known illicit flow of funds.
Back in April, Chainalysis released a report on the unusual effects of COVID-19 on Bitcoin usage.
Image Credits: Pixabay
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