BeInCrypto has presented a longlist of 15 companies in the analytics and market data category. The list is part of the Institutional 100 research program, which evaluates digital asset infrastructure for institutional participants. The selection includes platforms that form the foundation for analysis, trading, and market evaluation.
This is not just a ranking. It is an attempt to capture who currently controls the data on which investment decisions are built.
Data Becomes the Foundation of the Market
The institutional market is changing. Whereas liquidity used to be the key factor, now the focus is on data quality.
The platforms on the list address different tasks. These include indexes, on-chain analytics, financial metrics of protocols, and APIs for integration into trading systems.
Who Made the List
The longlist includes Kaiko, Nansen, Dune Analytics, Messari, Glassnode, and other major players. DeFiLlama, Coin Metrics, Token Terminal, and Arkham Intelligence are also represented.
Each company covers a separate segment. Some work with institutional indexes, others with wallet analysis or liquidity flows.
Kaiko and Nansen Strengthen the Institutional Segment
Kaiko continues to develop its market data and index direction. The company already works with major exchanges and infrastructure providers.
Nansen is focusing on on-chain analytics and wallet labeling. The platform tracks hundreds of millions of addresses and helps analyze market participants’ behavior.
Dune and Messari Shape the Analytics Environment
Dune remains the standard for working with on-chain data through SQL queries. The platform is actively used by analysts and funds.
Messari is developing research and corporate analytics. The company emphasizes project management and protocol evaluation.
DeFiLlama and Token Terminal Set Market Metrics
DeFiLlama has become a key source of data on TVL and the state of the DeFi sector. Its metrics are used as a basic benchmark.
Token Terminal focuses on the financial indicators of protocols. The platform helps assess revenues, expenses, and project sustainability.
Arkham and IntoTheBlock Work With Participant Behavior
Arkham Intelligence focuses on address identification and analysis of major players. The platform links wallets to specific entities.
IntoTheBlock uses machine learning to assess risks and market behavior. This is important for institutional strategies.
The Market Moves Toward Data Integration
A separate trend is the integration of different types of data into a single product. Amberdata and Coin Metrics offer hybrid solutions that combine on-chain metrics and market data.
This reduces dependence on multiple sources. For institutional clients, this simplifies decision-making.
Competition Shifts to Data Quality and Depth
Companies no longer compete only on interfaces. The main focus is on data depth, accuracy, and update speed.
Source independence is also important. Platforms that can verify data from multiple channels gain an advantage.
How the List Was Formed
More than 30 companies participated in the study. The final list includes 15 platforms that showed the best results on key parameters.
The evaluation was divided into two parts. Half was based on quantitative indicators, and half on the opinion of the expert council.
What Criteria Were Considered
Data coverage, level of use by institutional clients, research quality, and business maturity were taken into account.
Investments, market position, and platform independence were also considered. This creates a more objective picture.
What’s Next?
The shortlist will be published in May 2026. The winner will be announced in June at the Proof of Talk conference in Paris.
This stage will show which platforms are considered key for the institutional market. They will set the standards for working with data in the coming years.
Why This Matters
Control over data is becoming a key element of the market. The quality of analytics affects not only trading but also strategic decisions.
The platforms on this list are already forming the infrastructure. And it is through them that most of the information on which the digital asset market is built passes.
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