In a three-phase bull market, are there significant changes in the fundamentals of the assets? Essentially, the changes are more about the gameplay, but the innovations are not substantial.
Even the TRX in 2017 focused on payments, AAVE in 2020 established lending, and this round's pumpfun surprisingly revolves around blockchain Pvp.
Among these benchmark projects, there are very few highlight or innovative projects this time; projects like Polymarket aren’t even issuing tokens anymore.
So, there is very little real innovation at the core, but from the perspective of asset issuance, everyone has "innovated" many things, such as inscriptions, aiagents, cat-dog-hippo memes, and so on.
