We are in a long bull market and new highs are claimed by both, Bitcoin and Ethereum. They are almost anytime, the first ones who give the sound of the crypto melody, if we are going up or down. For a while, Bitcoin was a solo instrument concert, but it is not for a long time, so now we have a plenty of sounds now in this our dear crypto space.
Of course, we hear first the most profound tones, which are a Bitcoin String Bass and followed by Ethereum's Cello , but it seems we are facing with more and more players who are willing to remain and prove to be worthy.
Until this year, it seems Bitcoin is having the most important part to sing in this show, but, as the moment of Ethereum's 1559 event is coming, it seems we see some detachment between these two players and ETH is trying to find it's own independent way.
Along with BTC and ETH, many instruments also were starting to play in this concert or some of them are trying to make their own show.
Look at Cardano, Polkadot, Solana, Cosmos, even Elrond or some other platforms.
On the other side, there are instruments that would try to be useful in as many type of concerts possible.
We are talking about cross chain projects, like pNetwork, Quant, Cosmos, Mantra DAO, Wanchain, etc. I'm not saying all these projects will have a future, but they are trying to assure it for them.
Also, there are more and more teams who tries to bring an upgrade on the actual state of the platform, to make it faster and cheaper, like Polygon (ex Matic), EasyFi (EZ), OMG Network (Ex OmiseGo - OMG), etc
Them the decentralized finance had a revolution last year because of the Uniswap concept and may other swaps appeared as soon as possible:
Sushiswap, Quickswap, Waultswap, etc
Everybody is trying to do something useful, for them, first, but also for crypto space.
Even Binance, who saw a good opportunity to address the market who doesn't care about centralization once they are getting into a Liquidity Pool, so they made Binance Smart Chain, which is a copycat of Ethereum blockchain, but centralized and faster and cheaper because of this. And look what monster are creating!
I want to mention only the kitchen related suite CAKE, BAKE, etc animals or any other thing you could think of it: BUNNY, AUTO, FARM, CREAM, etc
They are doing almost the same thing, but looking a little different:
All those are DeFi and crypto adoption instruments, but I'm not sure it doesn't have the effect of an energizer - strong at first, but not so good on long term, because many could become disappointed of the consequences.
And now, since few months, another type of instruments are trying to get a slice of the CAKE (no, i'm joking, not from the CAKE, but from the whole crypto): NFT's.
It seems everybody has something to make it unique and memorable and ready to sell.
When somebody quite influencing will state something bad about NFT, or show the majority of it are useless, the fever will pass and probably something different will show up to profit from this.
And, the most negative part in the crypto world today is the meme coins bubble. It was needed for a single Elon Musk declaration to make DOGE explode. And what is happening when something is doing well? Right, the imitators (funny, the imitators of an imitator) appears: SAFEMOON, SAFEMARS, SHIBA INU, AKITA INU - all with billions of billions of supply, made for getting your attention with their minuscule price.
That's it, We have a lesson to lear. Soon.
In the meantime, solid projects are trying to build and probably in the next few years will have the most important part to play in this music.
The question follows: who is the next Rockstar?
Photo by Wendy Wei from Pexels
