In the three-round bull market, the fundamental changes of the underlying assets are actually not significant; the real differences are more reflected in the changes in gameplay.
Although the innovations are not particularly large, the ways of market participation and investment directions have undergone significant changes.
For example, in 2017, TRX mainly focused on the payment field, while AAVE in 2020 concentrated on lending, and the current market's enthusiasm is centered around blockchain PVP games, which also reflects the gradual evolution of gameplay.
Based on these benchmark projects, the highlight projects and innovations in this round of the market are relatively few, with platforms like Polymarket even choosing not to issue tokens.
Therefore, although the underlying innovations are relatively limited, innovations around asset issuance and market marketing are emerging endlessly, such as inscriptions, AI agents, and various meme projects like cats, dogs, and hippos.
These innovations surrounding assets have, to some extent, become a new windfall in the market.
