The Tron network will be fully integrated on Nansen 2 thanks to a collaboration between Nansen and the Tron decentralized autonomous organization (DAO). Nansen will launch a Tron Macro Dashboard that will provide developers and investors with real-time insights into the Tron ecosystem.
Nansen analyzing Tron heyday
Blockchain data analytics and wallet label provider Nansen will give Tron users and developers new transparency and a window into the network’s onchain activity. The deal comes as Tron rapidly gains new users and is emerging as a dominant force for USDt (USDT) adoption.
Tron hosts the largest circulating supply of USDT, with 22.7 million USDT holders among its over 270 million user accounts. This is compared with 4.2 million USDT holders on Ethereum. Tron reached full decentralization in December 2021.
Tron is distinguished by its scalability and low fees. In mid-November, Tether minted $1 billion in USDT on Tron without paying any fees. That was less than two weeks after it moved 1 billion USDT from Tron to Ethereum as part of the 2 billion total USDT it moved there. Tether minted 1 billion USDT on Tron in August as well.
Tron integrated with blockchain oracle Chainlink in October. Tron founder Justin Sun said about Nansen:
“With advanced analytics and on-chain data insights, developers will have access to more tools and resources to build and optimize their DApps, while enabling greater transparency within the community."
In addition to USDT, Tron’s memecoin launchpad, SunPump, is driving Tron’s revenue. SunPump was responsible for $151.2 million of the networks’ record-high $577 million revenue in the third quarter. Between Aug. 12 and Sept. 30, 89,000 tokens were launched using the new service, with more than 7,500 tokens launched on Aug. 20 alone.
Nansen founder and CEO Alex Svanevik told Cointelegraph:
"The integration with TRON was a strategic move driven by its significant traction and technical advantages. […] For Nansen, this integration was a great opportunity to work with one of the most active and rapidly growing ecosystems."
Related: Tron’s Bitcoin layer-2 plan could see ’wrapped’ USDT flow into Bitcoin
Nansen striding forward
Nansen 2 is the latest version of the analytics platform. Svanevik said it “introduces several key updates and features designed to enhance user experience and provide more powerful onchain analytics capabilities.”
Nansen acquired StakeWithUs, a Singapore-based staking service provider, in September. The acquisition allows users to stake tokens with Nansen validators across more than 20 blockchains.
Source: Nansen
Nansen added Solana analytics in October, noting that the blockchain offers particular challenges due to its technical complexity and high volume of data.
Nov. 19, 2:00 pm UTC: This article has been updated to include quotes from Alex Svanevik.
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