At REDeFiNE TOMORROW 2025, a fireside chat featuring Alex Svanevik, CEO & Co-Founder of Nansen, and Tanawat Chiewhawan, CEO of Tokenomist, explored the cutting edge of on-chain intelligence and data analytics.

The discussion centered on making it easier for crypto enthusiasts to transform raw, complex blockchain data into actionable, high-signal insights. This evolution in analytics is driven by the maturation of the crypto market and, most critically, the revolutionary capabilities of Artificial Intelligence. The technology will improve these tools, moving them beyond only observing on-chain activity to providing a deeper understanding of the actors, motivations, and capital flows that define the digital economy—and ultimately, enabling users to manage their on-chain assets more effectively.

From an Ethereum Primacy to a Multi-Chain Market

The fireside chat began with Svanevik describing how starkly different the crypto landscape is today compared to 2019. He recalled a time when the prevailing wisdom was that Ethereum was the only chain that would ever matter—a notion that seems almost quaint today. The industry has since blossomed into a vibrant, multi-chain ecosystem teeming with competing Layer 1s and scalable Layer 2s, each with its own thriving community and on-chain economy.

This diversification has been a defining shift. “When we started building Nansen, we only focused on Ethereum,” Svanevik noted. “Today we support... 30-plus different blockchains, actually 50-plus if you look at some of the portfolio tracking we do.”

This expansion has been mirrored by a fundamental change in user behavior. The prohibitive gas fees that once relegated most trading activity to centralized exchanges have given way to more efficient chains, pulling immense liquidity and a flurry of activity directly on-chain. Decentralized exchanges (DEXs) also have grown exponentially, making on-chain swaps and DeFi participation accessible to a much broader audience. As more value moves onto blockchains, the most significant, market-beating advantages are now uncovered by analyzing the blockchain itself.

Nansen's Superpower: AI-Powered Labeling and Integration

To navigate this complex, multi-chain world, simply having the data is not enough. The key is to understand who is behind the addresses. This is where Nansen has carved out its niche, a capability Svanevik describes as their “superpower”: wallet address labeling.

With a staggering 400 million addresses labeled, Nansen provides context to the anonymous strings of characters, identifying funds, market makers, whales, and other significant entities. This process, once a painstaking combination of deterministic algorithms and manual research, has been supercharged by AI. Now, sophisticated AI agents are converging these efforts, automating the discovery and verification process with incredible speed and precision.

A testament to this is the newly announced “Deep Research” feature. With a single click, users can deploy a fleet of AI agents to investigate any address, compiling evidence and identifying the entity behind it in minutes—a task that would have previously taken hours or days of manual investigative work.

Nansen’s AI-first approach extends beyond labeling to the very foundation of data aggregation: chain integration. Svanevik provided a stunning metric of Nansen’s technological leap. “Back in the day when we integrated Solana... I think we spent more than maybe nine months,” he recalled. “Now, we have several examples where we've integrated a chain in one day.” This dramatic acceleration is achieved through AI-driven code generation, allowing Nansen to keep pace with the blistering speed of blockchain innovation and focus its human talent on quality assurance rather than manual coding.

Surfacing the Signal: The Methodology of “Smart Money”

One of the most powerful applications of on-chain intelligence, and a concept Nansen helped popularize, is the tracking of “Smart Money.” In an environment with hundreds of millions of active wallets, the vast majority represent retail noise. The “Smart Money” concept is a methodology for filtering this noise to focus on the wallets that have demonstrated consistent success.

Svanevik revealed the core of this methodology: a meticulous calculation of the Profit and Loss (P&L) for every address's on-chain trading activity. This is no simple task. It requires untangling a web of transactions across multiple chains, accounting for complex DeFi interactions, filtering out scam tokens, and factoring in activities like staking. By ranking addresses based on historical profitability, Nansen provides users with a powerful starting point: to see what the proven winners are doing in real-time.

But historical analysis is only the beginning. “The next frontier of this,” Svanevik explained, “is not just to measure historically how much money they made, but to see if you can predict how much money they will make in the future.” This move towards predictive analytics represents the holy grail of on-chain intelligence.

A New Paradigm: “Humans Use Agents, Agents Use Software”

Perhaps the most forward-looking insight from the discussion was Svanevik's vision for the future of software interaction itself. He outlined a paradigm shift away from traditional user interfaces.

“In the old world, humans would use software directly,” he stated. “In the new paradigm, humans use agents, and agents use software.”

Instead of navigating complex dashboards and filters, the user of the future will simply make a request in natural language—text or voice. An AI agent will understand the user's intent, interact with the powerful backend software, and deliver the answer directly. This removes the steep learning curve associated with sophisticated data tools and dramatically expands the addressable market, making high-level on-chain intelligence accessible to everyone. To support this vision, Nansen has an API coming soon in private beta, which will allow builders and funds to programmatically access its rich, labeled data.

The Future of Value is On-Chain

The conversation painted a clear picture of an industry at an inflection point. The convergence of a mature, multi-chain ecosystem with the exponential power of AI is creating a new frontier. On-chain intelligence is evolving from a reactive tool for analysis into a predictive engine for opportunity discovery. The collaboration between Nansen and Tokenomist is a real-world application of this, creating a comprehensive and seamless data ecosystem. Users can directly access Tokenomist's token analysis tools via the ‘Token God Mode’ feature on Nansen's platform. This integration of deep insights allows users to perform more comprehensive and effective data analysis.

Ultimately, Svanevik argued that the true 1000x growth for the industry will come when the value locked on-chain moves beyond speculative tokens to encompass real-world assets. He envisions a future where regulatory clarity allows for the tokenization of everything, including equity in companies like his own, tradable on a DEX and usable as collateral in DeFi. It is this vision—of a transparent, efficient, and intelligent on-chain economy—that firms like Nansen are building the foundational infrastructure for, one labeled address and one AI-powered insight at a time.