The highlights of 2022 was L2 with Arbitrum, Optimism and SUI making the headlines contributing a market cap of $19.4B while 2023 witness the rise of AI ecosystem heralding the launch of ChainGPT, WorldCoin, Bittensor and many more contributing a market cap of $8.8B. Then came BTC ecosystem in the twilight of 2023 with the launch of Ordinals and BRC-20 token standard with a cumulative market cap of over $5B. Tokens like ORDI, SATS have made the highest gain in the ecosystem.
Now that we are in 2024, are we going to witness the birth of another ecosystem? Or are we going to see the growth of these 3 ecosystems in varyig proportions?
To be honest, the advent of BRC-20 token standard have resulted in the rise of memecoin values with the Solana ecosystem being the most beneficiary of the trend. With the hype around this token standard, memecoins like BONK and SATS have made huge ROI for investors. As a result, trading volume across exchanges has multiplied and some exchange tokens have seen surge in values with BGB (reaching an ATH of $0.70) and BNB (reaching $320) making some huge gains in the last couple of months.
With the anticipation of the bull run expected on approval of a BTC spot ETF across US and Asia, many are of the opinion that major gains are going to be witnessed in both the Bitcoin and Solana ecosystems but that might just be the icing on the cake!
ALWAYS REMEMBER THAT THIS IS NOT A FINANCIAL ADVICE. ALWAYS ENSURE YOU DYOR
Images used were gotten from google open-source.
Contents of the post are mine exclusively.