Dune has launched its real-time transaction monitoring solution

What’s new? The team at Dune, a blockchain analytics platform for monitoring crypto market data, has made a number of important announcements at its own DuneCon conference in Bangkok. For example, the company launched a new product called Dune Echo, acquired smlXL, and unveiled a new metric called Dune Index.

Material by The Block

What else is known? Dune Echo will give developers access to real-time blockchain data across 30 networks, including Solana, the Ethereum mainnet, and many of the Layer 2 (L2) networks based on it. The team described Dune Echo as the fastest API in the industry, with data arriving on the platform 300ms after blocks are published to the blockchain. The product is currently in beta testing.

“Echo enables account and protocol data in real-time, simplifying the development process and enabling faster, more dynamic user experiences,” said Mats Olsen, co-founder and CTO of Dune.

Dune has also bought blockchain company smlXL, which previously received funding from leading venture capital fund Andreessen Horowitz (a16z), the amount of the deal was not disclosed. SmlXL’s flagship product is a real-time blockchain transaction modeling tool.

As Dune noted, smlXL offers a fundamentally new way to derive flexible, real-time data from blockchains with support for the Ethereum Virtual Machine (EVM). “Together we will make it 10x easier for developers to build with onchain data,” said Dune co-founder and CEO Fredrik Haga.

The third big news was the development of its own Dune Index metric to track global blockchain adoption and demand. The index offers a breakdown by network and a specific approach to accounting for metrics that may be inflated by manipulation.

According to Dune’s website, the index peaked on November 8, 2021, at 86,75. This was the peak of the previous bull market when bitcoin set a record at $69 000. Currently, the index has dropped to 55 points, which, however, still means significant adoption. That said, bitcoin has hit new highs three times this year: in March at $73 500, on the back of Donald Trump’s US presidential election victory ($75 000) and at the time of writing on November 11 ($82 000).