The cryptocurrency market has undergone distinct phases characterized by dominant fundraising mechanisms and project types. Here's a refined breakdown:
Early 2017: Initial Coin Offerings (ICOs) were the go-to fundraising method, fueling a bull market for established platforms and proxy investments. Participation itself yielded profits.
2021: Decentralized Finance (DeFi) boomed, fostering market diversification. Investors thrived on rapid entry and exit strategies.
2024: The introduction of Bitcoin ETFs spurred a surge in established projects and well-funded studios. However, with diminished pricing power for trading platforms, investor focus shifted towards project fundamentals.
Present: The market exhibits increased professionalism, with various risk-hedging tools at investors' disposal. Past investment strategies may no longer be applicable.
