Crypto has finally shaken off its stigma “get rich quick” reputation that has defined the industry for more than a decade according to Nansen founder and CEO Alex Svanevik — and it’s not just because nobody’s getting rich right now.
“Crypto assets have kind of been like the ‘toy world’ era of blockchains. And now we’re moving into the real-world era, where you see tokenized stocks, you see people trading indices like the S&P 500 and Hyperliquid,” Svanevik tells Magazine Trade Secrets.
“I think the interesting spot that blockchains are in right now is that they are basically giving a lot of room for non-crypto assets,” Svanevik says.
Svanevik’s optimism is especially high on a couple blockchains. Svanevik claims that while Hyperliquid is a popular blockchain in recent times, Solana still has a strong long-term ecosystem despite being known as the “home of meme coins”.
Industry has a ‘ridiculous’ misconception about Solana
“There’s been this view that Solana is just for meme coins, which I think is completely ridiculous,” Svanevik argues that the blockchain is much more than just a digital ledger. “incredible team” Behind it
“Maybe the most effective BD team, if we think broadly, behind that chain; they really are here to win,” Svanevik says.
Solana has dropped 9.60% in the last 30 days. Source: CoinMarketCap
But he does not make any predictions about what this will mean for the SOL prices in the coming 12 months.
“I think Solana overall as an ecosystem and as a chain is going to do well. I don’t know what that means for the SOL price. I mean intuitively you’d imagine that it’s gonna go up based on what I’m saying.”
Svanevik has a reputation as one of the most knowledgeable pundits within the cryptosphere. His company, Nansen is an analytics firm which tracks and analyses user activities across all networks. Svanevik co-founded Nansen with Lars Bakke Krogvig, Evgeny Medidev and others in 2019.
Svanevik’s involvement in the sector grew a little more in the years that followed. In August 2022, he became a member of the NFT Pudgy Penguins advisory board, whose theme is penguins.
Svanevik has also expressed his optimism about the Robinhood chain (ETH layer2-network), launched July 1, this year.
“Robinhood seems to kind of rise up as like a big contender to Base. It’s really interesting because Robinhood has such excellent distribution,” Svanevik says. He is not convinced Robinhood would launch a trading token.
“They clearly don’t need to, right? A lot of projects launched tokens as a way to bootstrap excitement in a user base,” Svanevik says.
The company’s listing on Nasdaq makes it seem counterintuitive that Robinhood would launch a competing product. “You should just channel all of that value into the HOOD stock. That’s kind of the first thought,” Svanevik says.
“They’ve been able to launch Robinhood chain and get tons of traction without a token.”
Bitcoin could be at a low point
Svanevik believes that Bitcoin is nearing a low. He suggests the price of Bitcoin could be at $60,000, the lowest point in its cycle.
Bitcoin has increased by 1.50% in the last 30 days. Source: CoinMarketCap
“My personal view is that I don’t think Bitcoin’s gonna go back below $60,000,” Svanevik says. “I think that’s the past… I think forever,” He says. According to him, Bitcoin is an effective hedge against the creation of money by central banks. He also believes that the cycle of global monetary growth will not end any time in the near future.
Bitcoin analysts disagree on whether bitcoin has found its bottom. After falling below $60,000 at the beginning of February, the currency bounced, then dropped back down to that level. Now, the price is mostly trading sideways.
Michael Terpin, a veteran crypto investor who told Cointelegraph recently that there is still more to go before the asset reaches rock bottom.
“We still have more pain to go,” Terpin told Cointelegraph Terpin said that Bitcoin will ultimately fall on Trade Secrets. Terpin stated that Bitcoin is going to fall. “66%” From its all-time peak of $126.100 in October 2025. “I think that brings us down into the 40s, and I think that’s about where we’re gonna go,” Terpin said.
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Source: cointelegraph.com
