#1 The cryptocurrency cycle is almost entirely driven by Bitcoin ETFs.

#2 ETH’s performance was a huge disappointment, but overall it performed well for stakers and airdrop users.

#3 Solana became the chain of choice for retail investors, demonstrated perfect product-market fit, and surpassed Ethereum. Then it got congested, stopped working, and crashed.

#4 Next up is Base, positioning itself as a legitimate competitor to Solana in the retail space.

#5 Memecoins have dominated the market alongside Bitcoin. Most have now fallen to zero. However, large-cap Memecoins have been one of the strongest performers this year, showing solid returns despite the correction. Memecoins have become a viable asset class in their own right.

#6 There are hardly any new retail investors entering the crypto market. It’s mostly ETF buyers and participants from previous cycles redeploying and moving out of the risk curve.

#7 Most crypto market participants missed the Bitcoin ETF run because of PTSD (Post Traumatic Stress Disorder). Too many then went all-in on altcoins to make up for the missed bull run. They deployed late and badly, invested more at higher levels, and now they are furious and losing money because too many altcoins gave up all of their 2024 gains in the last month.

#8 Around February, the market started to become flooded with scammy memecoin offerings and cash-grabbing founders who were focused on making a quick buck and creating short-term hype rather than long-term survival.

#9 There are too many Tier 2. These have become commoditized and most are grossly overrated with a few exceptions.

#10 The cycle is not over yet.