Cryptocurrency analyst Ignas believes that the first round of the bull market has already ended, and the second round is about to begin. Important catalysts for this bull market include innovation in the Bitcoin ecosystem, new forms of leveraged construction projects, and more airdrop expectations. The current market outlook appears to be very optimistic.
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Chaos has been largely cleared, creating the first wave of the bull market
Catalysts for the next bull market
Innovation in the Bitcoin ecosystem
New forms of leveraged construction projects
More airdrop expectations
Cryptocurrency analyst Ignas believes that the first round of the bull market has already ended, including:
Clearing up the chaos caused by the last bull market, winning multiple lawsuits, and deleveraging actions
Listing of Bitcoin spot ETF
Flourishing development of the SOL ecosystem
Introduction of some airdrop opportunities
Ignas believes that the second stage of the bull market has already started, including:
Further victories against regulatory agencies
Speculation about US interest rate cuts
Speculative psychology that ETH ETF may be approved
Increased influx of funds into BTC ETF
(
Grayscale’s net outflows hit a new low, Bitcoin ETF trading volume hits a new high, Bitcoin surges to 57K again
)
In terms of on-chain development, Ignas also pointed out several important positive factors:
More innovation in the Bitcoin ecosystem through the Runes protocol, L2, and BTC native dApps.
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Apart from the inscription, how does the Rune protocol drive market speculation again?
)
Recently, there have been various restaking projects, such as EigenLayer, upcoming updates of Polygon, the multi-chain ecosystem of Cosmos, Solana’s Picasso project, and Near’s Octopus Network.
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Apart from EigenLayer, what other restaking projects (Restake) have emerged recently?
)
There are also liquidity restaked token (LRT) projects that have emerged with the appearance of restaking projects, attracting market attention from the perspective of multiple returns.
(
Detailed explanation of the opportunities and risks of liquidity restaked token (LRT) projects)
And the Ethena project, which boasts that it does not rely on traditional finance, uses ETH staking income, combined with the hedging income of perpetual contracts. It currently claims an annualized return rate of up to 27.6%.
(
Stablecoin USDe issuer Ethena secures additional funding, led by Dragonfly Capital and Arthur Hayes
)
All of these are projects that operate in a leveraged manner in new forms, driving the recent craze.
Of course, there are also more airdrop expectations, including Eigenlayer, Wormhole, LayerZero, Blast L2, LRT protocol, etc. Ignas believes that these are all catalysts for the second wave of the bull market. Therefore, Ignas believes that the current situation looks very optimistic!
(This article is not investment advice, please DYOR)
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