Nansen claimed that its staking platform hit $1 billion in total value locked (TVL) in just four months. This represents a 1,500% increase from its initial TVL of $60 million, a truly impressive growth rate.
This news comes from a press release exclusively shared with BeInCrypto.
Nansen Sees Staking Success
Nansen, one of the largest analytics firms that broke important blockchain-related stories, attributes this success to a recent acquisition. Last September, the firm purchased premier staking service provider StakeWithUs, which laid the foundations for this project:
“We’re excited to have hit $1 billion in just 4 months since StakeWithUs joined forces with Nansen. We’ve received tons of great feedback from the 70,000+ users who now stake with Nansen. With the launch of Nansen Points in Q2, users can expect rewards from top-tier partners as well as Nansen itself,” said Alex Svanevik, CEO of Nansen.
Founded in 2019, Nansen has had a complicated journey from its startup origins to building this major staking platform. Nearly 4 years ago, it received over $12 million in seed funding from Andreessen Horowitz, and the firm has grown ever since.
It suffered a few setbacks, like a security breach and substantial layoffs in 2023, but maintained a strong reputation throughout.
In its exclusive press release, the firm credits its popularity here to one key factor: token options. Solana staking has become especially popular in the last year, and Nansen offers 0% commission fees for this asset.
It also features attractive deals for tokens like ETH and SUI, and a partnership with HypurrCollective made it the top non-Hyperliquid validator for HYPE.
Some rumors have circulated that Nansen could parlay this success in crypto staking into its own token launch. For example, Arkham Intelligence, another blockchain analytics firm, launched its ARKM token after building a strong reputation. In November, Arkham launched a US spot trading platform, opening a new chapter of business operations.
For now, however, Nansen has yet to directly hint at more ambitious goals beyond this staking platform. It referenced a broader mission of becoming the go-to platform for on-chain investors but didn’t go into specifics.
Nonetheless, this period of 1,500% growth is extremely impressive. If Nansen pursues further business ventures and expansions, this financial growth will provide strong momentum.
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