Ignas: The Second Bull Market is Unfolding, What Catalysts are Leading the Rise in Coin Prices?
Cryptocurrency analyst Ignas believes that the first round of the bull market has 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 expectations for airdrops. The market currently looks very optimistic!
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The 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 expectations for airdrops
Cryptocurrency analyst Ignas believes that the first round of the bull market has ended, a process that includes:
Clearing the chaos caused by the last bull market, winning multiple lawsuits, and deleveraging
Approval and listing of Bitcoin spot ETFs
Flourishing development of the SOL ecosystem
Opportunities for airdrops
Ignas believes that the second phase of the bull market has already begun, including:
Further victories against regulatory agencies
Speculation on the US interest rate cut
Speculative psychology regarding the approval of ETH ETFs
Increased inflow of funds into BTC ETFs
(
Grayscale’s net outflow hits a new low, Bitcoin ETF trading volume hits a new high, Bitcoin surges to $57k again
)
Regarding on-chain developments, 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 can the Rune protocol drive market speculation again?
)
Recent appearance of various staking projects, such as EigenLayer, Polygon’s future updates, Cosmos’ multi-chain ecosystem, Solana’s Picasso project, and Near’s Octopus Network.
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Apart from EigenLayer, what other staking projects have recently emerged (Restake)?
)
The emergence of liquidity staking tokens (Liquid Restaked Tokens, LRT) projects associated with staking projects, attracting market attention from a multiple-income perspective.
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Detailed explanation of opportunities and risks associated with liquidity staking tokens (LRT) projects
)
The Ethena project, which boasts not relying on traditional finance, utilizes ETH staking income and the hedging income of perpetual contracts. It currently claims an annualized return rate of up to 27.6%.
(
Stablecoin issuer Ethena secures additional funding, led by Dragonfly Capital and Arthur Hayes
)
These are all projects that operate in a leveraged manner in new forms, driving the recent craze.
Of course, there are more expectations for airdrops, including Eigenlayer, Wormhole, LayerZero, Blast L2, LRT protocol, and more. 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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