Wang Feng Observation: Yesterday, Today and Tomorrow of the Crypto Bull Market

Update/I briefly wrote "Yesterday, Today and Tomorrow of the Crypto Bull Market" based on my recent observations. yesterday //We have seen two bull markets between us. In the earliest bull market, Bitcoin became a god, and Ethereum and Altcoin ICOs took digital currencies out of the circle. Whoever boasted about high-performance public chains would see the money in the market flow to them. //The last bull market started with DeFI and ended with the Metaverse. Let us see that the application of blockchain can start from decentralized financial protocols such as AMM and pledge mining, and even lead to whether to make light protocols or fat applications. big discussion. today //Last year, the Inscription protocol derived from the Ordinals protocol activated the encryption market's imagination on whether the Bitcoin network can play the role of asset issuance and application. In a certain sense, this is the calf of the Inscription market. Otherwise last year would have been a deathly dull market. //Look at the three major theme sections in this round I think it's AI/RWA/Depin. Embracing the mainstream concepts in the current global economy, whether it is the introduction of real-world assets, participation in AI or the cross-border Internet of Things, is a big story, and native cryptocurrencies are starting to become practical. Looking at the re-emergence of Solana, it is definitely not just Meme emotions, but Depin, the combination of the Internet of Things and blockchain, and the strong imagination. //Let’s talk about Meme The popularity of Meme is not a prelude to the market, but an interlude. But it’s hard to come by, and it’s not worth spending too much time on. If you see someone who is all-in and says we’re a Meme community, celebrities and lKOL teaming up to promote, just stay away. Looking at the essence, the nature of today's Dogecoin is very special, and it must not be regarded as a Meme in a general sense. The imagination and speculation related to Xpayment have always made it difficult to ignore. //Pure native blockchain innovation, the three major themes are Layer2, module blockchain and Restaking. This is the sector where VC has invested the most in the past three years. This seems to be a classic among the native blockchain innovation sectors. Page, in today's general environment, it may be in a relatively passive market position. Of course, L2, the most powerful one, has begun to adopt an operation-driven approach. Whether it is Blast of Ethereum or Merlin of the Bitcoin ecosystem, it is difficult to ignore and become an intermediate force. //Web3 application section Many people were originally not optimistic about the application themes that have transitioned from Web2.0, such as GameFi, Social Fi and even video live streaming, thinking that these so-called Web3 are just Web2+Tokenniz. Now they are impacted by AI and depin themes, which is even more embarrassing. In the next step of Web3 You may be even more ignored in the sector, which makes people less interested. The road ahead for these projects is not easy. //tomorrow The independent bull market in the crypto industry has created multiple small cycles, and this special cycle will always exist. However, the general cycle of the crypto market cycle will inevitably merge into the global mainstream financial market, be closely integrated with the new round of technological innovation narratives, and interoperate with mainstream financial assets. This is a new era. The above is purely personal YY. Corrections welcome.