Twitter KOL Ignas Analysis: What are the six major ecosystems to watch in the next bull market?
Analyst Ignas tweeted about several projects he considers his top picks for the upcoming bull market.
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The Key to Cryptocurrency Price Surge: Telling the Inflation Story Well and Innovatively
Although the crypto space loves to criticize "central bank money printing," Ignas pointed out that the crypto space itself is actually the best at printing money. He cited many examples of money printing:
Bitcoin fork coins such as BCH, BTG, Bitcoin SV
ETH's ERC 20 tokens make issuing new coins easier
Airdrops and liquidity mining in DeFi
NFTs like Bored Ape Yacht Club and APE token
Blockchain games like Axie Infinity
Ignas believes that as long as protocols in the token economy can significantly reward early users through staking, providing liquidity, and other means, the protocol's ecosystem will become stronger over time.
And as long as the new inflow of funds can keep up with the speed of protocol money printing, the party can continue, otherwise a collapse will follow.
Ignas has identified several protocols in the next bull market that combine technical innovation and a compelling money printing narrative.
My top picks for the bull run:
Tokens with ecosystems that excel in innovative "money printing" and compelling storytelling.
The first money printing & new stories started with Bitcoin forks like Bitcoin Cash, SV, and Gold.
Then Ethereum made printing tokens easier and…
— Ignas | DeFi Research (@DefiIgnas) November 6, 2023
Injective INJ Ecosystem
INJ stakers and INJ dApp users are about to receive airdrops from protocols like the following dApps:
Most importantly, INJ staking offers a 16% APY.
Kujira KUJI Ecosystem
Similar to Injective, KUJI stakers receive airdrops, recent examples include ROAR, MNTA, and NTSK tokens.
Solana SOL Ecosystem
The Solana ecosystem has been destroyed but is currently being rebuilt, airdrops from the following protocols are also on the way:
Celestia Ecosystem
Ignas mentioned that he is still in a watching state but hopes to see Celestia's ecosystem gain adoption with the launch of new applications and Rollups.
This is why Ignas is still staking TIA instead of selling.
Celestia Mainnet Launch | Opportunities and Challenges for Modular Blockchain Future
Liquidity Re-staking Protocols
He believes this should benefit the price of ETH and increase ETH staking rewards.
He previously mentioned EigenLayer and Stader Labs in his articles.
DeFi Analyst Ignas Predicts Two Major Bull Market Catalysts by 2025
Bitcoin DeFi
Ignas pointed out that ecosystems like Stacks, Ordinals, BitVM share common potential features to attract new users:
Grabbing attention
Inflow of funds
Continued expansion of the ecosystem through coin issuance and airdrops
Ignas promises to release papers on topics like Stacks in the future.
Bitcoin Ecosystem Heating Up! Binance to List Ordinals ORDI, Soars Over 50%