Cryptocurrency analytics platform Nansen is expanding its capabilities beyond Ethereum by moving into Bitcoin through a partnership with the Bitcoin layer-2 (L2) network, Bitlayer. 

Nansen is debuting Bitcoin (BTC) analytics services by delivering blockchain data analytics to Bitlayer, an L2 network supporting smart contracts and decentralized applications (DApps) on Bitcoin.

As the first Bitcoin L2 network to be supported by Nansen, Bitlayer will offer its users access to analytics tools designed to support and accelerate growth in its ecosystem.

Nansen’s foray into the BTC layer-2 ecosystem

Announcing the news to Cointelegraph, Nansen noted that the partnership marks its foray into the Bitcoin L2 ecosystem.

By supporting Bitlayer, Nansen plans to build the foundation for deeper Bitcoin L2 insights and more efficient decision-making, the company said.

“By extending our analytics capabilities to Bitlayer, we aim to support its users and drive further adoption within the BTC L2 landscape. This aligns with our mission to surface the signal and create winners,” Nansen CEO Alex Svanevik stated.

According to Bitlayer co-founder Charlie Hu, Nansen’s expertise in onchain data will help Bitlayer’s community with insights, enabling developers, investors and users to better understand network dynamics and identify opportunities.

“This collaboration strengthens our commitment to building an open, data-driven environment on Bitcoin that supports innovation and growth across decentralized applications and services,” Hu noted.

This is a developing story, and further information will be added as it becomes available.