Nansen establishes partnership with Bitlayer to boost Bitcoin Layer 2 Analytics and Ecosystem Growth.
Nansen’s partnership with Bitlayer brings analytics to the Bitcoin Layer 2 ecosystem, enabling insights into transaction trends and project traction, with new features launching soon to support growth and transparency in BTC L2.
As explained in the update, Bitlayer is an EVM-compatible BTC L2 network designed to boost “scalability, speed, and flexibility within the Bitcoin environment.”
By supporting smart contracts on Bitcoin, Bitlayer now reportedly combines Bitcoin’s robust security with the adaptability of an Ethereum-compatible platform, paving the way forward for “a new generation of decentralized applications (dApps), DeFi solutions, and blockchain innovations.”
Since launching its mainnet V1 in April, Bitlayer has reportedly seen traction, with more than 280 different projects deployed and nearly “$300 million in total value locked (TVL), demonstrating its rapid adoption and ecosystem growth.”
As the “first” BTC L2 network to receive Nansen’s support, Bitlayer reportedly enables scalable, secure, and flexible transaction processing, “blending Bitcoin’s strengths with Ethereum-compatible functionality.”
Via Nansen’s integration with Bitlayer, users are now able to access “essential analytics to explore transaction activities, assess project traction, and observe usage trends within this ecosystem.”
Alex Svanevik, Chief Executive Officer, Nansen said that their collaboration with Bitlayer is a testament to their commitment to “empowering blockchain communities with actionable data.”
Svanevik added that following this latest collaboration, they “aim to further drive adoption within the BTC L2 landscape.”
As mentioned in a blog post, this latest partnership lays the groundwork for Nansen to support additional BTC L2 networks, thus helping with fostering “transparency and growth in the Bitcoin Layer 2 on-chain ecosystem.”
Blockchain firm Nansen has also revealed that it will be integrating Bitlayer, with a Nansen Query feature as well as a Growth dashboard on the Nansen App “expected to launch by next quarter.”
