Crypto Sheds 'Get Rich Quick' Reputation, Solana and Robinhood Gain Traction

Nansen founder and CEO Alex Svanevik believes that crypto is finally shaking off its 'get rich quick' reputation. He attributes this change to the industry's shift towards tokenized stocks, indices, and non-crypto assets. According to Svanevik, blockchains are giving room for these new use cases.

Svanevik is particularly bullish on Solana, despite its reputation as a 'meme coin' ecosystem. He argues that the blockchain has an 'incredible team' behind it, which he believes will lead to success. Solana's price is currently down 9.60% over the past 30 days.

Svanevik also praises Robinhood chain, calling it a big contender to Base. However, he doubts that Robinhood will launch a token, as it would be counterintuitive given the company's listing on the Nasdaq.

Regarding Bitcoin's price outlook, Svanevik thinks the market may be approaching a bottom, with the current level around $60,000 marking Bitcoin's cycle low. He believes that Bitcoin serves as a hedge against central bank money creation and doesn't see the global monetary expansion cycle coming to an end anytime soon.