Nansen CEO Alex Svanevik discusses the multichain future and other trends shaping up the crypto industry in an exclusive chat.
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Edward Wilson, from on-chain data firm Nansen, also highlighted the step towards accessibility that the Dencun upgrade represents. “By reducing these barriers, Dencun sets the stage for enhanced innovation, adoption, and growth across the Ethereum ecosystem.”
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“There is too much bullish momentum in crypto,” Nansen analyst Aurelie Barthere said in a research note. “We do not expect a significant sell-off for crypto as this repricing has happened in the past few months without questioning the bull market.”
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Aurelie Barthere, principal research analyst at Nansen.ai, said the inflation reading is only a short-term blip for cryptocurrencies, and is unlikely to impact the bull market over the coming weeks.
Read More -->The US Labor Department revealed that core inflation hit 3.2% in February, above the 3.1% expectations. Although this could be seen as an issue for crypto investors, Aurelie Barthere, Principal Research Analyst at on-chain analysis firm Nansen, reveals that they do not expect it to end the crypto bull market yet, nor to impact prices significantly in the coming weeks.
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According to Nansen analyst Edward Wilson, the out-performance indicates that significant investor activity is moving out along the risk curve. "As the market begins to heat up, investors seek higher yields beyond major cryptocurrencies such as bitcoin and ether," Wilson told The Block.
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In a note sent to CoinDesk, Aurelie Barthere, an analyst with Nansen, suggested that the slowdown and end of Fed rate hikes also likely contributed to BTC bottoming in 2022 and the rally after November 2023, with tech stocks also reaching new highs due to AI narratives. The prospect of the Bitcoin Halving, Barthere wrote, is seen as a tailwind for crypto prices, with historical data showing superior returns around the Halving period. "The strong performance of risk assets overall, like crypto, equities, credit, tell us that financing conditions have probably loosened, especially since November last year and the peak in rates," Barthere wrote. "Investors are also really sanguine about macro prospects (recession no longer consensus), and the risk premium linked to uncertainty about a potential growth shock has come down."
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Defend your portfolio! We often talk about discovery, due diligence and defense, right. So discovery, you find tokens, due diligence, you do the analysis on it, and then defense is about having, for example, alerts like the example I gave with the deep pegging to defend your portfolio, so you’re not going to get wrecked by someone dumping on you. So in bear markets, the defense component becomes very important. - Alex Svanevik
Read More -->"U.S. growth has remained exceptionally strong compared to Europe, the UK, and Japan, which has supported the [U.S. dollar]," Aurelie Barthere, an analyst in Nansen, wrote in a note to CoinDesk. "However, this is less clear going forward, as we have seen a series of weak consumption and housing data in the U.S. I see the DXY linked to crypto prices through the intermediary of the rates channel."
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