In Brief:
- Fantom Foundation, partnered with blockchain data analytics platform Nansen.
- Developers have been eager to leverage Fantom’s high speed and low gas fees to power their applications.
- Compared to Ethereum, Fantom’s new contract deployments and transactions per day have been on the rise
Nansen, a popular blockchain analytics platform, has expanded its coverage to the Fantom blockchain, shedding light on a rapidly developing decentralized finance (DeFi) ecosystem.
Fantom Foundation, which is behind one of the most successful crypto projects this year, has announced that blockchain data analytics platform Nansen has now integrated with the Fantom mainnet.
With Nansen, users can analyze and often copy the trading activity of well-known wallets. It is a popular tool among traders.
Fantom is among a growing number of layer 1s competing to attract liquidity and DeFi users with massive incentive programs worth hundreds of millions of dollars in tokens.
It’s an exciting time for the crypto industry as two of the biggest projects have come together.
Fantom has been experiencing a long and extraordinary period of expansion. Developers have been eager to leverage Fantom’s high speed (1-second transaction finality) and low gas fees to power their applications.
Compared to Ethereum, Fantom’s new contract deployments and transactions per day have been on the rise, briefly surpassing Ethereum at various points this past month.
In addition, the chain has a considerable amount of stablecoins – important to ensuring liquidity – composed primarily of USDT.
If you are familiar with Nansen, you should be familiar with their Smart Money labels by now. Smart Money is a label by Nansen which includes Smart LP, Flash Boys, Whales, Funds and others.
The Nansen report notes that Fantom is currently popular with Flash Boys – likely arbitrage traders who take advantage of low fees and volatility – as well as “Smart LPs” (highly successful liquidity providers).
Fantom CEO Michael Kong emphasized Nansen’s commitment to developing the Fantom network. He said, “Nansen analytics will bring visibility to innovative projects on the network and amplify their successes. We’re excited about the increased usage Nansen will bring to Fantom and to the incredible wealth of information that the analytics platform will make available.”
Nansen CEO Alex Svanevik expressed a similar sentiment, “Our users are living in a multi-chain world, and at Nansen, we’re excited to support Fantom with rich data across the wider blockchain ecosystem.”
