How to Explore the New Dynamics and Opportunities in the Cryptocurrency Market as the Bull Market Approaches, from the Promotion of Spot ETFs to the Rise of Layer 2 Ecology?
Summary of the Market:
Since the launch of Bitcoin spot ETFs in early 2024, the cryptocurrency market has experienced unprecedented activity and growth. In particular, with the upcoming Bitcoin halving and the Federal Reserve’s expected interest rate cut, Bitcoin and Ethereum have reached new historical highs and milestones of $4,000.
It is worth noting that the amount of Bitcoin held by BlackRock has surpassed MicroStrategy, with a cumulative holding value exceeding $100 billion, demonstrating the immense interest of Wall Street institutions in Bitcoin spot ETFs.
These developments not only demonstrate the strong attractiveness of cryptocurrencies as investment tools but also reflect 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.
Technical Innovation and the Rise of Layer 2 Ecology:
With the hot development of the cryptocurrency market, Bitcoin and Ethereum networks are facing congestion and high usage costs, which has prompted the focus on Layer 2 solutions. In this trend, Merlin stands out with its innovative technology and outstanding performance, with a Total Value Locked (TVL) of over $3 billion, making it one of the most notable projects in the market.
However, the Bitcoin Layer 2 ecosystem is still in the exploration stage and lacks unified standards, indicating that the market is still searching for the best path to adapt to growing demands 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 the positive expectations of the market 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 widespread market attention.
Adjustments in the NFT Market and the Development of Diverse Ecologies:
Compared to the past, the NFT market on Ethereum has relatively weak performance in this bull market, with prices generally falling. In addition, non-EVM ecosystems such as Cosmos are gradually emerging, and Aptos has enhanced 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 of 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. Meanwhile, established meme coins like SHIB and DOGE, as well as emerging meme coins like PEPE and WIF, have also experienced significant gains in this bull market.
Market Outlook:
The current cryptocurrency market presents a situation of multiple blossoming points, and the speed of sector rotation is gradually increasing. Not only are mainstream cryptocurrencies such as Bitcoin and Ethereum continuously reaching new highs, but Layer 2 ecosystems, platform coins, AI concept tokens, and meme coins also demonstrate strong market vitality.
To seize market opportunities in this bull market, the best approach is to gather research resources and work together as a team. If there is a research community where individuals can independently study their own specialized tracks and projects, with professional division of labor, it can ensure that everyone grasps the alpha of all tracks.
Therefore, I have decided to establish the JZ Squad, bringing together top talents with different expertise and interests to research and learn together, contribute their expertise and resources, and seize the opportunities of the 2024 bull market.
Whether you enjoy conducting in-depth research on DeFi or public chains, or you prefer diving into meme coins or participating in airdrops, or you are a miner, developer, or a KOL who enjoys sharing knowledge, you can find your place according to your personal expertise and interests. I believe this will definitely enable you to gain something and accelerate your progress in the cryptocurrency market.
If you want to join the JZ Squad, please read the recruitment information tweet:
https://twitter.com/jzinvest_xyz/status/1769665096614342975
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