Ansem: This cycle is closer to the 2020-2021 DeFi expansion, with stablecoins and tokenized stocks opening up new markets.

BlockBeats news, October 6: Crypto trader Ansem posted that, in his view, mapping this cycle one-to-one onto the market conditions of 2020, 2023, or 2024 has limited reference value. For him, the closest parallel to the current environment is the DeFi expansion of 2020 to 2021, when an entirely new business sector brought billions of dollars in capital on-chain.

In this cycle, stablecoins, especially tokenized stocks, are opening up new markets while attracting participation from retail investors, institutions, and developers. New sectors bring new capital flows, products, and a great deal of speculative activity, which is the framework he uses to analyze this cycle.