The next two years may very well mark the beginning of the next bull market!

This time, the tokenization trend is led by Wall Street, and the wind from Wall Street has finally reached the application layer!

The earliest time I encountered this concept was in 2018, when the market generally referred to it as chain reform, asset on-chain, and later in 2020, the DeFi era. Blockchain games, art copyright NFTs on the chain, and in 2021, almost all celebrities worldwide issued NFTs—familiar figures in Asia like JJ Lin and Jay Chou were involved, and there were even more well-known artists in Europe and America, including businessmen like Donald Trump! Back then, a parliamentary debate could spawn a meme with a funny hairstyle;

This round, first, various platforms are rushing to launch tokenized US stocks and gold tokens. Yesterday, ICE invested in Old Xu, and today BlackRock has started to make statements. BlackRock CEO: Tokenization will forever change the financial industry, enabling freer movement of investments. The entire Wall Street has already begun to get involved, so this matter is basically set for the future;

Every bull market must first have a widely recognized concept and logic that supports sustainable development, gradually bursting with momentum, and then the bull slowly arrives;

The driving force of a bull market certainly cannot rely solely on memes. Memes generally drive speculative and harvesting behaviors in emotional trading at the tail end of a bull market. The initial phase of a bull relies on sustainable, widely accepted concepts gradually taking hold and gaining popularity—such as the ICO boom in 2017, DeFi and DeFi infrastructure, stablecoins, and the explosion of Layer 2 solutions in 2019, laying the foundation for the 2020 and 2021 bull markets. From 2023 to 2025, it’s all about meme-driven on-chain frenzy. Besides the ETF approvals for BTC/ETH pushing Bitcoin and Ethereum to new highs, there aren’t many lasting marks. If you had to summarize the development of the crypto space over these two years, what would you choose as the defining milestones?
#加密市场上涨