Alex Svanevik, CEO and Co-founder of Nansen, expressed his belief that "every asset will be tokenized" and tracked on-chain, making on-chain data essential for investors. Svanevik made this statement during his talk at Binance Blockchain Week.
"At Nansen, we believe that every asset will be tokenized," said Svanevik. "That means every asset is going to be on-chain and we are 100% focused on on-chain. If you're not tracking what's happening on-chain, you're probably missing out on important signals as an investor."
According to a report by Fortune Business Insights, the global blockchain technology market size was valued at USD 17.57 billion in 2023 and is projected to grow from USD 27.84 billion in 2024 to USD 825.93 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 52.8% during the forecast period.
A report by Zippia indicates that 81 of the top 100 publicly traded companies in the world are using blockchain technology.
According to a report by Phemex, on-chain transactions are permanently recorded on a public ledger, which ensures transparency and immutability. This transparency allows anyone to verify transaction details, fostering trust and accountability within the network.
Nansen is a blockchain analytics platform founded in 2019 that provides data on cryptocurrency transactions, including wallet labels, to help investors track on-chain activity. Named after Fridtjof Nansen, the platform uses algorithms, heuristics, and smart-contract analysis to label wallets and categorize transactions, primarily relying on open-source Ethereum ETL data. Nansen’s labeling methods aim to prioritize accuracy to reduce incorrect classifications and leverage network effects for expanded labeling according to its website.
Binance Blockchain Week is a conference that brings together innovators, founders, investors, regulators, and officials to discuss the future of blockchain and Web3. The theme of this year's conference is "Momentum." "Momentum propels our industry," states the event's website, "not only taking us through challenges but also leading us to our biggest achievements."