The first half of 2024 has ushered in a new cycle for cryptocurrency adoption. The long-awaited approval of Bitcoin ETFs has been a decisive factor for this new cycle. This allowed bitcoin to again reach the threshold of institutional adoption and positioned the market for a potential bull market cycle. 🚀

These cycles were marked by the introduction of new projects, from Bittensor and ZKSync to Bonk and Dogwifhat. It also led to a strong increase in the prices of many digital assets. Assets with higher beta compared to Bitcoin experience greater volatility, reflecting investors' expectations for higher returns. 💹

There are several trends shaping the altcoin market. These include a focus on innovation, sustainability and the discovery of new use cases. Re-staking has become a notable vertical for this new cycle. This involves continuously staking the rewards earned from staking tokens and compounding the returns over time.

Altcoins continue to adopt Layer2 scaling solutions to increase transaction speeds and reduce fees. This trend aims to improve user experience and attract more users to the platforms of these projects.

Collaboration between blockchain networks is also a growing trend. Some projects are building bridges and collaborating to enable asset transfers and communication between different blockchains.

Current crypto market prices seem to indicate the beginning of a bull market. However, this phase may not be far off, and when it begins, it can be difficult and potentially costly to be unpositioned, especially at a time when institutional adoption is increasing and the need to generate alpha is increasing.

What are your thoughts? Let's discuss in the comments! 💬👇