We have arrived at the start of the next bull market. If history is our guide, these cycles are powered by multiple factors including Bitcoin’s halving events, shifts in macroeconomic landscapes around U.S. elections and Federal Reserve interest rates, as well as the advent of new Web3 and DeFi innovations. Yield farming, for instance, was a significant innovation that fueled the previous cycle. The upcoming cycle may potentially feature a mix of zero-knowledge proofs, novel DeFi primitives like restaking, and innovative blockchain stacks that offer modularity, composability, and are primed for interchain asset and data movement.
