“[Pump Fun is] a huge success; I don’t think we can call it anything less,” Nicolai Søndergaard, a research analyst at blockchain analytics firm Nansen, told Unchained. “I have a lot of people now reaching out to me, who I haven’t spoken to in a while, and they’re suddenly talking about, ‘Hey, we found this thing called Pump.Fun’ or ‘Hey, we see this meme, should we do something?’”
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Nansen has announced a new integration into Solana. This integration will provide advanced token and wallet tracking tools to analyze the Solana ecosystem.
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Blockchain analytics firm Nansen has completed the integration of Solana analytics to provide real-time tools to track onchain activity.
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Nansen analyst Edward Wilson told Decrypt in an emailed statement that it was “surprising” that the launch was “so underwhelming,” considering that Trump has branded himself as a fiercely crypto-friendly candidate ahead of next month’s election.
Read More -->The report indicated that DePIN and NodeFi may be the most profitable verticals for decentralized finance going forward.
Read More -->Nansen founder Alex Svanevik warns of a big asset sell off if an unrealized gains tax is put into force
Read More -->Degen also jumped as the number of smart money holders increased and as volume in centralized exchanges fell. Data from Nansen shows that the volume in exchanges fell by 9% to 3.65 billion, while smart money holders rose to 80, the highest level since July 21.
Read More -->On the positive side, there are signs that investors are bullish on Shiba Inu. Data from Nansen shows that SHIB’s CEX outflows continued this week, with net outflows worth over $2.7 million in the last 24 hours. The total tokens on exchanges have dropped by 0.3% in the last seven days to over 254.2 trillion, equivalent to $4.5 billion.
Read More -->"Keeping crypto allocation or skin in the game makes sense as the Fed has just given more juice to this bull market. But a lot is already in the price of risk assets.” Aurelie Barthere, principal research analyst at Nansen
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Nansen analyst Aurelie Barthere observed that bitcoin has underperformed relative to U.S. equities and Chinese stocks since the announcement of Beijing's stimulus packages. Barthere noted that "Hang Seng and Chinese equities have outperformed bitcoin since the stimulus was announced. One reason could be that the Chinese measures primarily affect the domestic economy rather than having a global or U.S. economic impact."
Read More -->There are also signs that more investors are moving back to Pepe. According to Nansen, Pepe had outflows worth $4.2 million on Sept. 26, a 6x increase above average. The total supply on exchanges has dropped by 0.35% in the last seven days. A significant outflow from centralized exchanges is a sign that more investors are moving the coin from exchanges to their own custody.
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