Nansen CEO Alex Svanevik has highlighted six central themes that might underpin the imminent bull market cycle the crypto community is anticipating.
As one of the vocal leaders in the fast-growing crypto ecosystem, Svanevik said he feels obligated to share the themes as he has received consistent questions regarding the crypto market’s direction.
Been asked about crypto going forward.
Below are 6 themes I think will play a role in the next cycle.
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— Alex Svanevik ? (@ASvanevik) October 6, 2023
The Defining Market Cycle Themes
According to the Nansen CEO, the six themes include a combination of Fintech frontend and Crypto backend, Gambling and Betting, RWAs related to T-Bills, Web 3.0 Gaming, SocialFi, and Physical NFTs.
According to his position, we are poised to see more companies like PayPal and Revolut. While these two are established Fintech platforms, they offer crypto services, including stablecoins and Ethereum staking. He believes crypto will replace the backend structure of fintech platforms.
Svanevik is also optimistic that DeFi innovation can help strengthen Gambling and Betting as we have seen LooksRare launch Yolo. The crypto founder is highly confident about tokenized T-Bills, which he noted might “actually eat a lot of stablecoin supply.”
With the current momentum in this regard, Svanevik believes the duo of Circle and Tether might not move much in this arena. At the same time, Superstate, Mountain Protocol, and OpenEden will lead in this frontier.
To bolster his optimism in the next market cycle, the Nansen CEO said we will see more Web3 games appear after about two years of building.
Noting the impressive emergence of friend.tech, Svanevik believes SocialFi protocols will also be a significant trend ahead of the next market cycle. However, “most will fail,” he said, adding that “a handful could become massive successes.”
Overall, he thinks the market will see the emergence of Physical NFTs, as we have seen with Walmart, Starbucks, and other mainstream fashion brands like Gucci and Lacoste.
Will Bitcoin Lead Market Cycle Trend?
While no innovation surrounding Bitcoin (BTC) was highlighted by Svanevik as a significant trend to watch for the next cycle, many proponents remain optimistic that the entire crypto ecosystem is anchored on the premier digital currency.
There have been a lot of predictions centered around BTC and how it will drive the next rally. When new products like Bitcoin spot ETFs and the halving event are factored in, the argument that BTC will lead the next rally remains valid.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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