Why hasn't Bitcoin rebounded yet? Looking back at April, the cryptocurrency market has experienced a difficult period, with a cumulative market value decline of 11.3%, mainly affected by changes in interest rate expectations, geopolitical risks and slowing spot Bitcoin ETF trading. Despite the challenges, April also saw positive developments. Six cryptocurrency-based spot ETFs began trading in Hong Kong on April 30. In addition, the total supply of stablecoins pegged to the US dollar reached a two-year high, and the stablecoin supply of USDT and USDC continued to grow, indicating a trend of capital inflows into the crypto market.

TON and BNB showed relative resistance, rising 1.0% and slightly falling 1.4%, respectively. TON's outstanding performance is due to the recent attention its ecosystem has received, with monthly active addresses and total value locked in the network (TVL) reaching all-time highs in April. BNB has been one of the better performing currencies in the past few months.

In this round of bull market, you will find that the sector rotation is more frequent, and if you are careful, you will find that this is the law of the bull market.

Regardless of whether the bull market is coming back or the bear market is coming back, take it easy

Through the analysis of KOL investment projects, we can also see that emerging ecosystems + mature models are the norm. In addition to Ethereum re-staking tracks such as Ethena and Ether.fi, the investment targets they choose are mostly concentrated in emerging ecosystems that have mature models for reference

Blast: As an L2 network backed by Blur, the "master of the points system", Blast has gradually grown into an "application network" with an increasingly rich ecology through step-by-step operational activities such as the points system, gold points rewards, and Big Bang events. Whether it is games, social networking, Defi, or NFTFi, Blast's points are the "best selling point" of the product, thus attracting many teams and investors including KOLs to rush in.

Berachain: As an L1 public chain that has completed a $100 million Series B financing and is valued at at least $1 billion, Berachain's ecosystem is also gradually developing, especially its positioning as a "community-driven blockchain network" and its strong Meme attributes, which has also made many KOLs the pioneers and evangelists of this ecosystem.

Sui Network: As a blockchain network powered by the Move language, Sui's high throughput, low latency and asset-oriented programming model have also been recognized by many project parties. According to recent data from the Artemis platform, the average daily transaction volume on the Sui chain once briefly surpassed the Solana network, reaching 41 million times. In the long run, casual games are a major advantage track for Sui. The previous Sui Basecamp event in Paris also showed the market the highly active status of this ecosystem, thus providing a good soil for the implementation of mature models.

Market dividends are cyclical. The bull market in 2017 ended at the end of the year. In fact, many cottages in the bull market in 2021 ended in the middle of the year. With the explosion of the market metaverse, some sectors once again reached a new high and ended the bull market at the end of the year. I personally expect that the arrival of this round of bull market will be faster than the previous round, and it will end faster! Just like many people, Bitcoin is not actually on the train at present, because it has risen too fast, beyond the expectations of many people!