“[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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According to a crypto analyst, the Federal Reserve’s decision to lower interest rates was already priced into the crypto markets. The analyst also stated they believed now was the right time to explore selling opportunities. Aurelie Barthere, principal research analyst at blockchain analytics firm Nansen, stated, “The Fed put has also been anticipated by rate markets: in a sense, last week, the Fed was catching up with market expectations. 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.”
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On Sept. 18, Nansen CEO Alex Svanevik said a Donald Trump victory would be “bullish for crypto in the US.” However, if Kamala Harris wins, he believes it would be “bullish for crypto outside the US,” as crypto firms might relocate from the US.
Read More -->In addition to concerns about a global economic downturn, Bitcoin investors are also closely watching the upcoming US presidential election, with a focus on Democratic Party candidate Vice President Kamala Harris. Alex Svanevik, CEO of blockchain analytics platform Nansen, remarked that the Democrats have created a “relatively hostile environment for crypto.” He anticipates that a Harris presidency would likely continue the current administration’s crypto policies, which are viewed as less supportive of the industry’s development in the US.
Read More -->According to a crypto analyst, the United States Federal Reserve’s move to lower interest rates was already priced into the crypto market, signaling that now might be the time to consider potential selling opportunities. “The Fed put has also been anticipated by rate markets: in a sense, last week, the Fed was catching up with market expectations,” blockchain analytics firm Nansen principal research analyst Aurelie Barthere wrote in a Sept. 23 report shared with Cointelegraph. “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,” Barthere added. She explained that Nansen’s “comfortable” strategy is “trimming crypto allocation on rallies,” given the “asymmetry to the downside.” Following the Fed announcing the rate cut, the market sentiment quickly turned positive per the Crypto Fear & Greed Index.
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Meme coins, when traded wisely, have become some of the most popular wealth generators this year. For example, data from Nansen shows that a trader who spent $9 buying Hoppy in July has gained $6,500. That same trader now has over $673,000 in unrealized profits.
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However, data compiled by Nansen shows that LINK had a CEX inflow of almost $5 million in the last 24 hours. CEX inflows mean that some investors have started to exit. Another notable trend is that the number of smart money investors holding LINK has dropped from 133 in December to 97. The balances held by these investors have fallen from over 2.4 million in October last year to 900,000.
Read More -->Data by Nansen shows that, while the number of smart money has retreated slightly recently, it remains significantly higher than June’s low of 71. The total balance held by these investors has held steady at 439,000. The biggest smart money holds over 25,000 AAVE tokens worth $4 million plus other coins like Ethereum, Pepe, Ondo Finance, and Beam.
Read More -->"It’s bullish for the U.S. that Trump wins. It’s maybe short-term bearish for everyone if Harris wins. […] If you’re not an American, you support Harris because then you have more crypto business outside of the U.S.” Alex Svanevik, CEO of Nansen
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Nansen CEO Alex Svanevik discusses the multichain future and other trends shaping up the crypto industry in an exclusive chat.
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Mr Alex Svanevik, who is co-founder and CEO of analytics platform Nansen, thinks staking is likely to be a key trend in the months ahead. Staking is a service that lets users generate yields in return for allowing their tokens to be used to facilitate transactions on a blockchain. Nansen on Sept 10 announced its acquisition of a staking service provider.
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