The long awaited approval of Bitcoin ETFs was a decisive factor for this new cycle, along with strong price momentum that led to bitcoin reaching a new all-time high. This not only pushed bitcoin to the doorstep of institutional adoption again, but it also positioned the market for another potential bull market cycle.
Several trends are shaping the altcoin market in 2024 that signify a focus on innovation, sustainability, and exploration of new use cases, driving growth among altcoins.
Re-staking has emerged as a notable vertical for this new cycle, which involves continuously staking the rewards earned from staking tokens, compounding the returns over time.
Altcoins are increasingly adopting Layer2 scaling solutions such as Optimistic Rollups, zkRollups and side-chains to improve transaction speeds and reduce fees. This trend aims to enhance user experience and attract more users to these projects' platforms.
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