Blast creator Tiyeshun Rocker believes that the current market period is different from previous ones

According to the latest report from Binance Research, the SOL and XRP rates showed growth of 30.5% and 27.6%, respectively, in the previous month. Cryptocurrencies surpassed BTC and other popular digital assets in this indicator.

Binance Research believes that Solana’s growth is associated with an increase in trading volumes on decentralized platforms. The average daily number of active addresses on the network reached 1.7 million.

“Positive sentiment around the ecosystem was bolstered by several developments in the decentralized finance (DeFi) market, including the introduction of Jito restaking and the announcement of Drift prediction markets,” the analysts noted.

At the same time, experts associate the increase in the XRP price with the launch of CME benchmark indices and reference rates. The position of the cryptocurrency was also influenced by the statement of Ripple Labs CEO Brad Garlinghouse about resolving the conflict with the American regulator.

In July of this year, some crypto assets showed a decline in quotes. For example, the price of Ethereum fell by 1.6%, the TON rate sank by 12%, although the ecosystem continued to grow due to the attraction of new users by the clicker game Hamster Kombat.

The creator of the Blast project, Tiyeshun Rocker, believes that the current market period is different from the previous ones. According to him, significant changes have not yet occurred that could trigger the next wave of cryptocurrency adoption in the world.

“From the point of view of fundamental technological innovations, there is nothing new in this cycle. In many ways, it is due to the launch of ETFs and pressure from regulators. Therefore, this cycle is developing differently from the previous ones,” Rocker said.

Previous market cycles had their own specifics. They were characterized by the initial coin offering (ICO), the launch of the decentralized platform Uniswap and the emergence of NFT.

Against this backdrop, there was a significant influx of funds into the market, which were concentrated around the most popular digital coins and new assets such as non-fungible tokens, the expert said.