The logic of each bull market is different. In the last bull market, SBF and Sanjian Capital pushed the public chain crazily, and made money by mining DeFi at zero cost.
This bull market is brought by ETF. The incremental funds will only stay in the four markets of Big Coin, Auntie, Sol and Meme. Retail investors in the US stock market will not take over VC B. When Auntie rises, some people fantasize about retracing the glory of DeFi, but it may only be in dreams. Retail investors who do not take over VC coins will still buy Meme.
Auntie ETF can make Big Coin and Auntie rise, which will still drive the rise of Meme, but it cannot drive the rise of VC coins, DeFi, L2, etc. Just like Big Coin ETF can only bring the rise of Bitcoin and Meme, but it will not bring the rise of ORDI and Bitcoin L2.
In the past, the bull market meme was not dominant and was ignored by many people. This year, only the meme has continuity. The SHIB that appeared in the last bull market started in the West. The next SHIB in this new bull market will be
