Bitcoin News
By Sakamoto Nashi
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Solana, Robinhood Chain, and Who's Positioned Well. Not every blockchain benefits equally from this shift, and Svanevik is pretty clear about which…
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Bitcoin's $60,000 Floor — and the Dissent. On Bitcoin specifically, Svanevik thinks the current price range might be the cycle low.
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Bitcoin won't fall below $60,000. That's the call from Alex Svanevik, founder of blockchain analytics firm Nansen, who thinks the market is deeper into a structural shift than…
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Svanevik's argument isn't really about price charts. It's about what's actually happening on blockchains right now.
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Not every blockchain benefits equally from this shift, and Svanevik is pretty clear about which ones he thinks are set up right. Solana is one of them. Yes, Solana has dropped 9.
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The Robinhood chain also caught his attention. It's part of the Ethereum layer-2 network, and Svanevik sees it as a real contender against platforms like Base.
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On Bitcoin specifically, Svanevik thinks the current price range might be the cycle low. He's firm: it won't go below $60,000 again.
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Related: Canada Adds 75,000 Jobs in July While US Loses 23,000, Bitcoin Holds at $65K
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Not everyone agrees. Not even close. Veteran investor Michael Terpin sees things very differently.
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Svanevik's position at Nansen gives him a specific kind of visibility. The firm tracks millions of labeled wallets and maps activity across blockchain networks, which means he's…
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He's also been active beyond Nansen. In August 2022, he joined the advisory board of Pudgy Penguins, the NFT collection, which put him closer to the consumer and culture side of…
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The Robinhood chain's competition with Base is worth watching. Layer-2 networks are basically fighting for developer attention and liquidity right now, and that competition…
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Read also: Binance Bitcoin Futures Hit $57.82 Billion as Spot Trading Shrinks 8-Fold
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Solana's monthly decline of 9.60% sits awkwardly against his optimism, but he's probably thinking in longer time frames than a single month.
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