Celsius, 3AC demonstrated why financial infrastructure should move on-chain

cointelegraph.com:

While mainstream coverage of cryptocurrency has been overwhelmingly negative in the wake of the collapse of the Terra ecosystem, the bankruptcy of Celsius and the fall of Three Arrows Capital, these events ultimately show why more of the financial system should operate on-chain, bringing more transparency and information to market participants.

In all three cases, the damage was caused and exacerbated by opaque, off-chain entities. And while the reason for the trio of events is important, it has also caused considerable damage to the overall reputation of the industry. These events have made it clear that the industry is in need of more transparency, something that can be made possible with more on-chain data and data analysis tools.

Proponents of blockchain technologies often tout their transparency: the networks are treasure troves of open, incorruptible financial data allowing for economic activity to be measured with an unprecedented degree of accuracy. This new technology creates immutable records of all transactions where sentiment and investor behavior can be measured through the collection and study of data.

On-chain data gives us insight into market events 

On-chain data analysis has become essential in the blockchain space. By looking at transaction data and crypto wallet balances, we can gather valuable insights into market conditions. This is crucial for participants and investors trying to plan their next move. Not only does data tell a story of the market's past, but it allows each and every investor to make an informed decision before initiating any trades or interacting with the market.

Related: A $10B hedge fund gone bust with founders on the run

The importance of analytics platforms has become more apparent