加密转向现实资产：Nansen创始人揭示行业新范式

加密货币迈入现实世界应用新纪元：从迷因币到资产代币化

Nansen联合创始人兼首席执行官Alex Svanevik在CoinTelegraph Magazine的‘Trade Secrets’节目中强调，行业正经历根本性转变——从过去以短期暴富为特征的投机模式，逐步过渡至支持真实世界资产代币化、合规交易产品及主流金融渠道融合的新阶段。他指出，当前区块链技术的核心价值已不再局限于加密原生资产，而是扩展至可互操作的传统金融工具，如代币化股票与追踪标普500等基准指数的结构性产品。

核心转型信号：非加密资产的链上赋能

Svanevik将这一演进定义为加密进入‘现实世界时代’，其关键标志在于对传统金融基础设施的深度整合。他认为，未来的发展重点将不再是孤立的散户炒作，而是通过与主流金融市场机制的协同，实现更广泛的应用落地。代币化证券与指数型金融产品的兴起，标志着行业正超越单纯的投机周期，转向更具可持续性的金融创新路径。在他看来，区块链真正的吸引力，正在于其为非加密资产提供流动性与透明度的能力。

Solana生态潜力被低估：迷因币叙事遮蔽长期价值

无代币也能崛起：Robinhood链的用户增长逻辑

Svanevik forecasts that Robinhood’s newly launched Ethereum Layer-2 chain could emerge as a serious rival to Base, driven by the parent company’s massive user base and brand recognition. However, he anticipates no native token issuance. According to him, the strategic focus lies in rapid user adoption and product velocity—goals that can be achieved without incentivizing participation via token rewards. He observes that many projects issue tokens early to spark excitement, but such tactics are ill-suited for a publicly traded entity like Robinhood. Given that HOOD stock already captures investor value, launching a competing digital asset would create internal conflict. 'They’ve proven they can gain traction without a token,' he asserts.

比特币周期底部博弈：6万美元是触底还是反弹前的静默？

就比特币前景而言，Svanevik maintains his view that the market may have approached a key support level near $60,000. He does not foresee a breach below this threshold in the near term, citing Bitcoin’s enduring role as a hedge against monetary expansion by central banks. He believes the broader cycle of currency devaluation is far from over, which discourages predictions of deeper declines. Yet, divergent opinions persist: some analysts, including Michael Terpin, warn that Bitcoin could fall another 66% from its 2025 high of $126,100—potentially testing the $40,000 range. This contrast between ‘near bottom’ optimism and ‘more pain ahead’ caution underscores the ongoing uncertainty among traders about whether current consolidation reflects a true inflection point or merely a pause before further downside.

展望未来，市场焦点将集中于三大关键问题：Solana生态系统能否在价格波动中持续兑现其长期叙事；Robinhood链在缺乏代币激励的情况下是否具备可持续增长能力；以及比特币在$60,000区域究竟会形成坚实支撑，还是仅作为新一轮下跌前的短暂盘整。