The evolution of the cryptocurrency market has seen distinct phases since 2017.
Initially driven by ICOs, which offered rapid wealth accumulation through public offerings, the market shifted towards DeFi in 2021. This era emphasized speculative trading strategies like yield farming, challenging the traditional valuation methods seen in earlier stages.
Regulatory changes impacted the landscape, particularly affecting IEOs, which transitioned to airdrops and market-driven pricing.
By 2024, the introduction of BTC ETFs attracted institutional investors, reshaping the market towards more stable, VC-backed projects. Despite these advancements, challenges remain, highlighting the importance of cautious investment strategies in the ever-evolving crypto landscape.