The first half of 2024 has started a new cycle for the crypto’s adoption. The long awaited approval of Bitcoin ETFs was a decisive factor for this new cycle, along with strong price momentum that led to bitcoin reaching a new all-time high. This not only pushed bitcoin to the doorstep of institutional adoption again, but it also positioned the market for another potential bull market cycle.
Re-staking has emerged as a notable vertical for this new cycle, which involves continuously staking the rewards earned from staking tokens, compounding the returns over time. Projects like EigenLayer , EtherFi , and Renzo have implemented mechanisms that encourage users to restake their staking rewards, thereby increasing their stake in the network and contributing to its security and stability.
Interoperability between blockchain networks is also a growing trend. Some projects are collaborating and building bridges to enable asset transfers and communication across disparate blockchains. This trend aims to create a more interconnected and efficient blockchain ecosystem instead of many different siloed blockchains. Examples of such projects include Axelar , Across and Stargate .
Parallelized Ethereum Virtual Machines break down smart contract execution into parallel tasks, harnessing the power of multiple nodes simultaneously. The most popular parallelized EVMs, such as Sei , Canto , Nomad, and NeonEVM , are attempting to do this by processing transactions off-chain, then aggregating them back onto the Ethereum mainnet. This approach drastically improves transaction throughput and reduces latency, addressing Ethereum's historic limitations.