Nansen CEO Says Activity in Other Networks Will Fall Following The Merge Update

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Crypto users may switch to using Ethereum after the network’s upcoming transition to the Proof-of-Stake consensus algorithm, Alex Svanevik, CEO of analytical company Nansen, has predicted.

According to him, just as megacities need hospitals, lawyers and the media, networks need, among other things, DEXs, marketplaces, and analytical firms.

He has not ruled out that after the merger, many networks will become “ghost towns,” some will be able to find their own niches.

The Nansen CEO has recalled that during the last bull market, alternatives to Ethereum attracted attention amid the hype around NFTs. It led to an increase in transaction fees in the network of the second largest cryptocurrency by capitalization to three-digit values.