Nansen Founder 11 Catalysts for the New Bull Market, 6 Promising Trends

Nansen Unveils 11 Essential Catalysts for the Upcoming Bull Market and Identifies 6 Key Trends to Watch For

The worst time is behind us, sellers who were forced to sell have disappeared, and scammers are locked up in jail.

Original author: Alex Svanevik

Recently, the cryptocurrency market has performed excellently. Alex Svanevik, the founder of the blockchain data analysis platform Nansen, tweeted about 11 catalysts that could drive a new bull market:

1. The worst time is behind us, sellers who were forced to sell have disappeared, and scammers are locked up in jail;

• Crypto Gamblers Rejoice! Cboe Digital to Launch Margined Futures for Bitcoin, Ether
• Hackers Strike User Data Exposed in Heist on Defunct Crypto ATM Firm Coin Cloud
• Bitcoin hit an 18-month high last week, while Solana’s market value is approaching USDC.

2. BTC spot ETF could be approved in a few months, attracting institutional investors;

3. Fintech companies are entering the blockchain space, and the issuance of stablecoins by LianGuaiyLianGuail is like a canary in a coal mine (a sensitive indicator of economic fluctuations), with other fintech companies likely to take similar measures. Some banks are planning to launch stablecoins in 2024;

4. We are seeing genuinely exciting new products for socializing and gambling;

5. NFT trading volume hit a bottom a month ago and has been trending upwards since then;

6. Web3 games developed over the past 2 years are now being released, and while I have played several of them, we just need one amazing game;

7. Technological advancements have made it easier for regular people to join the crypto world. Lower gas fees on L2 and other chains, along with account abstraction, mean you can enter the crypto world without mnemonic phrases;

8. The DeFi space now relies on liquidity staking tokens (LST) and real-world assets (RWA) for momentum. Returns no longer depend on Ponzi schemes;

9. MicroStrategy’s unrealized profits from Bitcoin have surpassed $1 billion, which will trigger FOMO among enterprises;

10. The Federal Reserve’s monetary policy hasn’t even shifted yet (there may be future interest rate cuts);

11. Bitcoin will undergo its halving next year;

In addition, Alex Svanevik believes that DeFi 1.0 relied on yield farming and Ponzi schemes, which are not sustainable. DeFi 2.0, on the other hand, earns from LST and RWA, making it sustainable. According to him, DeFi 2.0 is already underway.

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

1. Fintech front-end + 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 ordinary people to use applications, while relying on DeFi backends makes more sense, and platforms can survive on capital yields.

3. RWA – especially US Treasury bonds

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

4. Web3 Games

In the next 6 months, we will see games that have been in development for over 2 years being released. Although most will fail, a few may achieve tremendous success.

Alex expressed optimism about SIPHER Odyssey, MixMob, and Axie Infinity.

5. Decentralized Social

Take friend.tech as an example, with a few iterations, SocialFi will secure its place in the cryptocurrency field.

6. NFTs with Real-World Integration

For example, Pudgy Penguins toys go live on Amazon and Pudgy Toys merchandise is sold in Walmart stores in the US.

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