In each bull market cycle, the most rapid growth is in the new species that are born (or exploded for the first time) in this cycle. For example, in the 2017 bull market, ICO was popular, and the most rapid growth was in ICO platforms (smart contract public chains) such as Neo and Qtum; and in the 21st bull market, the most rapid growth was in Defi, Gamefi & Metaverse, and NFT assets. 2020 was the first year of Defi, and 2021 was the first year of NFT and Gamefi.

However, since the development of this round of bull market, there has still been no new asset model or business model with similar weight as the smart contract platform and Defi in the above two bull market cycles.