Online data platform Nansen has picked up Ape Board, the DeFi finance portfolio tracker for a reported 8-figure sum. Ape Boards has more than 375 protocols over 33 blockchains that include Ethereum, Avalanche, Binance, Polygon, and Solano.
With Ape Board and its multichain coverage, traders will be given a holistic analysis of the crypto market that will not need multiple markets to analyze or track holdings.
Nansen will put its analytics along with the portfolio tracking capability of Ape Board to form a united Super App, as revealed by a spokesperson.
The combined TVL of decentralized finance protocols has slid around 40% to $113B in May alone. But that still leaves it 6 times greater than at the beginning of 2021.
Nansen Initially Formed To Focus On The Ethereum Blockchain
Ape Board could turn into the starting block of the Nansen tracker. While it will remain free for users, it will also integrate impeccably with the remaining features o Nansen.
Nansen was initially formed with the primary focus on the supply of analysis and data on the Ethereum blockchain. This platform has the backing of prominent investors from the industry, including Coinbase Ventures and Andreessen Horowitz (A16Z).
Nansen picked up $12M in 2021 in the funding round (Series A). the fund was for building an analytic platform in the decentralized finance sector.
Thus, Ape Board is the perfect foil for Nansen’s DeFi aspirations. Ape Board will make available an aggregator and pull together every DeFi investment into a single platform, that supports, among others, Ethereum, Terra, Binance, and Polygon for a total of 390 protocols.
With this acquisition, Nansen expects to move forward strongly and become the super app for information on Web3
Alex Svanevik, CEO of Nansen said that gaining data from the cryptoecosystem, especially blockchains like Ethereum and DeFi protocols, is fragmented and complex. The acquisition of Ape Board is expected to bring all intelligence on the market under a roof.