Nansen Founder 11 Bull Market Catalysts and 6 Bullish Trends

Nansen Uncovering 11 Key Bull Market Drivers and 6 Promising Growth Trends

In recent times, the cryptocurrency market has performed well. Alex Svanevik, the founder of blockchain data analysis platform Nansen, has released a Twitter analysis on the 11 catalysts that are driving the next bull market. They are:

1. The worst time has passed, forced sellers have disappeared, and scammers are locked up in jail;

2. BTC spot ETF may be approved within a few months, attracting institutional investors;

3. Financial technology companies are entering the blockchain space, and the issuance of stablecoins by LianGuaiyLianGuail is the canary in the coal mine (a sensitive indicator of economic fluctuation), and other financial technology companies will take similar measures. Some banks will introduce stablecoins by 2024;

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4. We are seeing new products that are truly worth participating in social and gambling sectors;

5. NFT trading volume hit bottom a month ago and has been on the rise since then;

6. Web3 games that have been in development for the past 2 years are now being launched. I have played several, but we only need one amazing game;

7. Technological advancements have made it easier for ordinary people to join in. L2 and other layer-2 solutions have lower gas fees, and account abstractions mean entry into the crypto world without the need for seed phrases;

8. DeFi is now powered by liquidity staking tokens (LST) and real-world assets (RWA), and yields are no longer reliant on Ponzi schemes;

9. MicroStrategy’s unrealized Bitcoin profits have surpassed 1 billion USD, which will lead to enterprise FOMO;

10. The Federal Reserve’s monetary policy has yet to change (there might be future interest rate cuts);

11. Bitcoin will undergo its 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, on the other hand, derives profits from LST and RWA, making it a sustainable model. In his view, DeFi 2.0 is already underway.

In October, Alex Svanevik shared six cryptocurrency market trends on Twitter:

1. FinTech Frontend + Crypto Backend

For example, LianGuaiyLianGuail has stablecoins, and Revolut allows you to stake ETH.

2. Gambling and Betting

L2 and account abstractions make it easier for regular people to use applications, making DeFi backend more meaningful. Platforms can rely on capital gains for survival.

3. RWA – particularly US bonds

Tokenized government bonds may actually consume a significant amount of stablecoin supply.

4. Web3 Games

In the next 6 months, games developed over the past 2 years will be released. While most will fail, a few might achieve tremendous success.

Alex likes SIPHER Odyssey, MixMob, and Axie Infinity.

5. Decentralized Social

For example, friend.tech will eventually have a place in the cryptocurrency field after several iterations.

6. NFTs Combined with Physical Goods

For instance, Pudgy Penguins toys are available on Amazon and Pudgy Toys merchandise is sold in Walmart stores in the United States.

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