Nansen Founder: 11 Catalysts for the New Bull Market and 6 Promising Trends
The worst times are over, the sellers who were forced to sell have disappeared, and the scammers are locked up in prison.Recently, the cryptocurrency market has performed well. Alex Svanevik, founder of the blockchain data analysis platform Nansen, released a tweet analyzing 11 catalysts driving a new bull market, which mainly include:
The worst time is over; forced sellers have disappeared, and fraudsters are in prison;
BTC spot ETF may be approved in a few months, attracting institutional investors;
Financial technology companies are entering the blockchain space, with PayPal issuing stablecoins as a canary in the coal mine (an indicator particularly sensitive to economic fluctuations, representing a signal). Other fintech companies will take similar actions, and some banks will launch stablecoins in 2024;
We are seeing new products in social and gaming that are truly worth participating in;
NFT trading volume hit a bottom a month ago and has since shown an upward trend;
Web3 games developed over the past two years are starting to launch. I have played several, but we only need one stunning game;
Technological advancements have made it easier for ordinary people to join now, with lower gas fees on L2 and other chains, and account abstraction means entering the crypto world without the need for a seed phrase;
The DeFi space is now powered by liquid staking tokens (LST) and real-world assets (RWA), with yields not relying on Ponzi schemes;
MicroStrategy's unrealized profits from Bitcoin have surpassed $1 billion, which will trigger corporate FOMO;
The Federal Reserve's monetary policy has not even turned (interest rate cuts may come in the future);
Bitcoin will experience a halving next year;
In addition, Alex Svanevik believes that DeFi 1.0 gained profits from liquidity mining and Ponzi schemes, which is unsustainable. DeFi 2.0 gains profits from LST and RWA, which is sustainable. In his view, DeFi 2.0 has already begun.
In October, Alex Svanevik shared six major trends in the cryptocurrency market on Twitter:
1. Fintech Frontend + Crypto Backend
For example, PayPal already has stablecoins, and Revolut allows you to stake ETH.
2. Gambling and Betting
L2 and account abstraction make it easier for ordinary people to use applications, while relying on the DeFi backend makes more sense, allowing platforms to survive on capital yields.
3. RWA -- (especially U.S. Treasuries)
Tokenized government bonds could actually consume a large amount of stablecoin supply.
4. Web3 Games
In the next six months, we will see games released after more than two years of development. Although most will fail, a few may achieve great success.
Alex is optimistic about SIPHER Odyssey, MixMob and Axie Infinity .
5. Decentralized Social
Taking friend.tech as an example, SocialFi will have a place in the cryptocurrency space after a few generations of iteration.
6. NFTs Combined with Physical Entities
For instance, Pudgy Penguins toys are available on Amazon, and the related Pudgy Toys are sold in Walmart stores in the U.S.
