Victor Ugochukwu · Dec 14, 2020 . 5min read
Chainalysis Launches Free Market Intelligence Platform
Chainalysis just rolled out a free market intelligence platform for corporate asset management firms and financial regulators interested in tracking the state of things within cryptocurrency industry
By Victor Ugochukwu · Jul 28, 2020 . 5min read
Crypto tracer, Chainalysis just rolled out a free market intelligence platform for corporate asset management firms and financial regulators. Chainalysis targets this at those who are interested in tracking the state of things within the cryptocurrency industry.
The latest development reported by The Block, the new website is called Market Intel. It is open and free for public use; however, it’s still in the beta stage. Market Intel will provide daily metrics on trading, demand, supply, generation, risk, and insights about how cryptocurrency is flowing between various entities and regions. The site currently tracks Bitcoin, Ethereum, Tether, Bitcoin Cash, and Litecoin.
Phil Gradwell, the Chief Economist, speaking on this release, said Market Intel targets the following:
just people from normal walks of lifePhil Gradwell, Chainalysis Chief Economist
More importantly, these “people” as Phil puts it do not necessarily show a keen interest in studying difficult charts. As a result, Regulators and asset managers are part of these set of folks.
That is why we’ve done a lot of work to try to get away from the more technical blockchain metrics and try to put things in more real-world termsPhil Gradwell, Chainalysis Chief Economist
Interestingly, Chainalysis does not have any plans of immediate monetization of the platform. Hence, it is free for use to any interested user. Specifically, Gradwell spells out the reason behind this business decision:
We think the product-market fit will take some time but we think it’s one worth playing forPhil Gradwell, Chainalysis Chief Economist
Chainalysis launch of a free market intelligence platform may be part of its expansionary efforts after raising $13 million in Series B.
On another thought, Chainalysis only recently raised $13 million in a Series B funding round. Subsequently, the launch of free-market intelligence to the public may be a broader strategy for expansion. An advocate for public and private sector cooperation for the growth of the industry, it is positioning itself as the go-to platform for easy-to-use information and readily available for free. If Coinmarketcap, a cryptocurrency directory built a $500 million brand with this model, why shouldn’t Chainalysis?