TokenAnalyst's update brings bad news for its community

The blockchain market intelligence firm, TokenAnalyst, announced just announced that it will stop supporting its platform. After over two years in business, the platform’s team has announced its withdrawal from the project.

A new announcement

The announcement reminds the community of the project’s original goal. It stated that “Our mission was to bring transparency to the decentralized world, and we believe we made significant progress towards this mission. We built a host of tools that made blockchains easier to understand for our users, and we hope you enjoyed using our data and services as much as we enjoyed building them.“

The announcement also says that the part of its team already knows its next destination. In other words, multiple team members will join Coinbase from now on. Finally, the team said that it will, in fact, remain committed to creating an open financial system that the world can benefit from. However, some of its members currently believe that joining Coinbase is the best way to go about it.

Unfortunately, the announcement does not reveal the reason behind the decision to shut down the platform.

Who was TokenAnalyst?

Founded in 2018, the platform spent the last two years offering data analysis tools targeted at enterprises. It was also one of the go-to places for getting on-chain insights.

On top of that, TokenAnalyst also offered several APIs (Application Programming Interfaces). These were available for the users, who could use them to obtain transaction data from the blockchain.

As mentioned, all of this allowed the platform to deliver greater transparency in the blockchain industry.