Nansen CEO Warns Ethereum Could Become 'Irrelevant by 2030' Amid Complacency Concerns

Alex Svanevik, CEO of blockchain analytics firm Nansen, has issued a stark public warning to the Ethereum community, criticizing a culture of complacency and defensiveness that he believes could render the network "irrelevant by 2030." In a post on X, Svanevik expressed frustration with the community's tendency to dismiss unfavorable data comparing Ethereum to competing chains.

"I love Ethereum, it got me into crypto, and I still hold ETH. But I honestly can’t stand the complacency culture that’s being championed these days," Svanevik stated. He highlighted a pattern where critiques are met with responses like "those metrics are fake" or "we still have TVL." Quoting Andrew S. Grove's "Only the Paranoid Survive," Svanevik argued that "Ethereum needs to be paranoid" to survive intensifying competition.

The warning underscores a growing industry discourse questioning Ethereum's ability to maintain its long-term dominance as rival Layer-1 blockchains and Layer-2 scaling solutions advance. Svanevik pointed to on-chain revenue as a critical, hard-to-fake growth metric, noting that over the past 30 days, Ethereum generated approximately $14.52 million in fees. In contrast, competitors Tron and Solana reportedly generated over $28.67 million and $18.13 million, respectively, during the same period.

Svanevik's call is for a cultural transformation within the Ethereum ecosystem, urging it to confront competitive pressures candidly and prioritize user experience and roadmap execution. The critique sparked debate within the crypto community. Some agreed, drawing parallels to fallen giants like Kodak. Others, like Liam, founder of Layer 2 Roundup, defended the Ethereum Foundation's recent actions, citing its 2025 leadership overhaul and ambitious initiatives like "Lean Ethereum" as evidence of proactive, not complacent, development.