Nansen claimed that its staking platform had reached $1 billion in total value locked (TVL) in just four months. This represents a 1,500% increase from the initial TVL of $60 million, a truly impressive growth rate.
This news comes from a press release shared exclusively with BeInCrypto.
Nansen sees success in the game
Nansen, one of the largest analytics firms to break major blockchain-related stories, attributes this success to a recent acquisition. Last September, the company acquired leading service provider StakeWithUs, which laid the foundation for this project:
“We are thrilled to have reached $1 billion in just four months since StakeWithUs joined forces with Nansen. We’ve received a lot of great feedback from the more than 70,000 users who now use Nansen. With the launch of Nansen Points in the second quarter, users can expect rewards from top partners and from Nansen itself,” said Alex Svanevik, CEO of Nansen.
Founded in 2019, Nansen has had a complicated journey from its inception to building this major staking platform. Nearly four years ago, it received more than $12 million in seed funding from Andreessen Horowitz, and the company has been growing ever since.
The company faced some setbacks, such as a security breach and significant layoffs in 2023, but maintained a strong reputation throughout.
In its exclusive press release, the company attributes its popularity here to one key factor: token options. Solana staking has become particularly popular in the past year and Nansen offers 0% commission fees on this asset.
It also offers attractive deals on tokens like ETH and SUI, and a partnership with HypurrCollective made it the best non-Hyperliquid validator for HYPE.
Total value of assets deployed on Nansen. Source: Nansen
There are some rumors floating around that Nansen could parlay this success in cryptocurrency deployment into its own token launch. For example, Arkham Intelligence, another blockchain analytics company, launched its ARKM token after building a strong reputation. In November, Arkham launched a US spot trading platform, opening a new chapter in its business.
For now, however, Nansen has not directly referenced more ambitious goals beyond this deployment platform. It hinted at a broader mission to become the go-to platform for on-chain investors, but did not go into specifics.
Nevertheless, this period of 1,500% growth is extremely impressive. As Nansen pursues further business ventures and expansions, this financial growth will provide strong momentum.
