From the promotion of spot ETFs to the rise of Layer 2 ecosystem, how can you explore the new driving forces and opportunities in the cryptocurrency market when the bull market comes?
Summary of the Market:
Since the launch of Bitcoin spot ETF in early 2024, the cryptocurrency market has experienced unprecedented activity and growth, especially with Bitcoin and Ethereum reaching new historical highs and breaking the $4,000 milestone this week, amid the upcoming Bitcoin halving and the expected interest rate cut by the Federal Reserve.
It is worth noting that BlackRock’s Bitcoin holdings have surpassed MicroStrategy, with a cumulative holding value exceeding $100 billion, demonstrating the significant interest of Wall Street institutions in Bitcoin spot ETFs.
This series of developments not only demonstrates the strong appeal of cryptocurrencies as investment tools but also reflects the positive recognition and involvement of mainstream financial markets in the cryptocurrency market, indicating that the cryptocurrency market will continue to climb new heights in innovation and development.
With the hot development of the cryptocurrency market, the congestion and high costs of Bitcoin and Ethereum networks have prompted Layer 2 solutions to become the new focus. In this trend, Merlin stands out with its innovative technology and outstanding performance, with a total value locked (TVL) exceeding $3 billion, making it one of the most eye-catching projects in the market.
However, the Layer 2 ecosystem of Bitcoin is still in the exploratory stage, lacking unified standards, indicating that the market is still looking for the best path to adapt to the growing demand and challenges.
The Recovery of Platform Coins and the Focus on Emerging Projects:
In this bull market, major platform coins such as BNB and OKB have performed well, reflecting positive expectations for cryptocurrency trading platforms and their related services. At the same time, the new round of projects on Launchpool and Launchpad focuses on areas such as gaming, AI, and Layer 2, attracting extensive market attention.
The Adjustment of the NFT Market and the Development of a Diverse Ecosystem:
Compared to previous bull markets, the NFT market on Ethereum has relatively weak performance, with prices generally falling. In addition, non-EVM ecosystems such as Cosmos are gradually emerging, with Aptos enhancing interoperability with the EVM ecosystem by removing transaction restrictions on the Stargate Aptos Bridge.
The Emergence of AI and Meme Coins:
AI concept tokens have performed exceptionally well, driven by the surge in AI concept stocks in the US stock market. The news released at Nvidia’s GTC24 conference further boosted the prices of tokens such as NEAR, FET, RNDR, and NMT. At the same time, veteran meme coins like SHIB and DOGE, as well as emerging meme coins like PEPE and WIF, have also gained significant increases in this bull market.
Market Outlook:
The current cryptocurrency market presents a situation of multiple opportunities and the rotation of sectors is gradually accelerating. Not only mainstream cryptocurrencies such as Bitcoin and Ethereum continue to reach new highs, but also Layer 2 ecosystems, platform coins, AI concept tokens, and meme coins show strong market vitality.
In this bull market, the best way to seize market opportunities is to gather research resources and collaborate. If there is a research community where everyone can individually study their specialized fields and projects, with professional division of labor, it can ensure that everyone grasps the Alpha of all tracks.
Therefore, I have decided to establish JZ Squad, gathering top talents with different expertise and interests to study and learn together within JZ Squad, contribute their expertise and resources, and seize the opportunities of the 2024 bull market.
Whether you are interested in in-depth research on DeFi, public chains, meme coins, airdrops, or even miners, developers, or KOLs who like to share knowledge, you can find your own position according to your personal expertise and interests, and believe that you will definitely gain something and accelerate your progress in the cryptocurrency circle.
If you want to join JZ Squad, please read the recruitment information tweet:
[Recruitment information tweet link]
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