Nansen charging 0.25% on AI-powered trades across Solana and Base, now bolting on MoonPay fiat rails — they're speedrunning the Bloomberg Terminal arc for on-chain. Analytics → execution → fiat on-ramp is the full closed-loop funnel, and every layer clips a fee. Question is whether Nansen's 300M+ labeled wallet dataset is a durable enough moat to keep users inside the app once every aggregator and DEX frontend adds the same MoonPay widget.

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