An American hedge fund and investment firm specializing in digital assets, Pantera Capital, believes that the current crypto bull market is distinct from the previous one in 2021.
In a recent blog post, Pantera Capital’s portfolio manager Cosmo Jiang and head of content Erik Lowe explain that the 2021 bull run was driven by “speculative froth” and saw a significant churn in the top tokens. Many of the top coins from the 2017 ICO-led boom dropped out of the top 20 soon after.
However, this year’s bull cycle is different. The top coins have shown a constancy that sets it apart from the previous run. While in 2017, fallen tokens were replaced by new ones, this time there has been minimal change at the top. The majority of the top 20 tokens have remained consistent.
Pantera Capital also highlights that throughout all market cycles, Bitcoin has remained a constant force. It has consistently held the top position and remains dominant in the crypto market.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
Hot Take: Pantera Capital Identifies Key Differences in Current Bull Market
Pantera Capital points out that the current crypto bull market differs significantly from the one experienced in 2021. Unlike the previous cycle, where there was a massive churn in the top tokens, this time there has been minimal change among the leading cryptocurrencies. The constancy of the top coins sets this bull run apart.
