Nansen Buys DeFi Portfolio Tracker Ape Board for an "Eight-figure" Sum

On-chain data platform Nansen said it bought decentralized finance (DeFi) portfolio tracker Ape Board for an "eight-figure" sum. Terms of the deal were not disclosed.

With the acquisition, Nansen will be aiming to offer a broader view of the investment landscape in DeFi, which has surged in the past year. While total value locked (TVL) in DeFi protocols has tumbled about 40% to $113 billion since the start of the month, it's still six times higher than at the start of 2021, according to tracking service DeFiLlama.

Nansen will expand its platform to incorporate portfolio tracking, programmatic access to on-chain data and Web 3-native communication, according to an announcement Tuesday.

The two firms said Ape Board's multichain coverage will provide traders with a holistic view of the market that does not require them to use multiple platforms to track their holdings and analyze the market.

Nansen plans to combine its analytics with Ape Board's portfolio tracking to make for an "all-in-one super app," the spokesperson said.

Ape Board's founder, Mike Phulsuksombati, said the acquisition will "supercharge" both products. "It will bring both products to another level that cannot be reached with just one service alone," he said.