Crypto is entering a new phase, according to Nansen founder and CEO Alex Svanevik, who argues the industry is finally moving past its reputation as a speculative playground. Speaking on Cointelegraph Magazine’s Trade Secrets show, Svanevik said blockchains are increasingly hosting real-world assets rather than purely native crypto tokens — a shift he sees as a maturing point for the space.
From “Toy World” to Real Assets
Svanevik described crypto’s earlier years as a “toy world” era, dominated by native blockchain assets with limited ties to traditional markets. That’s changing fast. Tokenized stocks and index products — including S&P 500 exposure now tradable on platforms like Hyperliquid — are pulling the industry toward mainstream finance. For Svanevik, this signals that blockchains are becoming infrastructure for non-crypto assets, not just a venue for trading tokens among themselves.
Solana’s Reputation Doesn’t Match Reality, Svanevik Says
Despite Hyperliquid’s recent momentum, Svanevik singled out Solana as one of the strongest blockchain ecosystems for the long haul. He pushed back hard against the idea that Solana is primarily a hub for meme coins, calling that characterization inaccurate given the strength of the team behind the network. He pointed to Solana’s business development efforts as among the most effective in the industry, describing the team as deeply committed to winning market share.
Svanevik stopped short of making a price prediction for SOL, which has fallen nearly 10% over the past month. He said he expects the ecosystem to keep performing well, though he was careful not to tie that outlook directly to token price movement.
Also Read: Evernorth CEO Says Companies Should Stop Holding XRP and Start Earning Yield
Robinhood Chain Draws Praise — But Don’t Expect a Token
Svanevik also flagged Robinhood’s new Ethereum layer-2 network, launched July 1, as a serious competitor to Base, crediting the platform’s built-in user reach. However, he doesn’t expect Robinhood to launch its own token, arguing the company has little incentive to dilute value away from its Nasdaq-listed stock. Robinhood, he noted, has already generated significant traction for its chain without needing a token to drive early interest.
Bitcoin’s Bottom May Already Be In
On Bitcoin, Svanevik suggested the current price range near $60,000 could represent the cycle low, citing Bitcoin’s role as a hedge against ongoing central bank monetary expansion. That view isn’t universal — veteran investor Michael Terpin recently told Cointelegraph he expects Bitcoin to fall further, potentially into the $40,000s, before this cycle bottoms out.
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