這個加密週期與過去不同，但這沒關係

特別是，與先前推動新發明的周期不同，當前時期尚未引入通常會推動大規模採用和熱情的“變革性技術”

Despite a slight bullishness in this crypto cycle, with Bitcoin (BTC) reaching a new peak above $73,000 in March, this cycle appears to be distinct from past cycles.

儘管這個加密貨幣週期略有看漲，比特幣 (BTC) 在 3 月達到了 73,000 美元以上的新高，但這個週期似乎與過去的週期不同。

Blast founder Tieshun Roquerre, also known by his pseudonym, Pacman, highlighted several factors that differentiate the current cycle from previous ones.

Blast 創辦人 Tieshun Roquerre（又名 Pacman）強調了當前週期與先前週期不同的幾個因素。

According to Pacman, this cycle is notably different due to the absence of the fundamental technological shifts observed in past cycles.

根據 Pacman 的說法，由於沒有在過去的周期中觀察到根本性的技術轉變，因此這個週期明顯不同。

Sharing his insights during a virtual Q&A session at the Foresight 2024 event in Hong Kong, Pacman highlighted several factors that differentiate the current cycle from previous ones. According to the expert, this cycle is strikingly different because it lacks the fundamental technological shifts seen in past cycles.

Pacman 在香港舉行的 Foresight 2024 活動的虛擬問答環節中分享了他的見解，強調了當前週期與以往週期不同的幾個因素。專家表示，這一周期截然不同，因為它缺乏過去週期中所見的根本性技術轉變。

Elaborating on this, Pacman discloses that the previous phases were marked by innovations such as initial coin offerings (ICOs), decentralized exchanges like Uniswap, and the emergence of non-fungible tokens (NFTs).

Pacman 詳細闡述了這一點，透露先前的階段以首次代幣發行 (ICO)、Uniswap 等去中心化交易所以及不可替代代幣 (NFT) 的出現等創新為標誌。

Pacman added that these innovations spurred new waves of adoption and created fresh avenues for capital rotation within the crypto space, energizing the market and fueling bullish sentiments.

Pacman 補充說，這些創新刺激了新一波的採用，並為加密貨幣領域內的資本輪換創造了新的途徑，從而激發了市場並激發了看漲情緒。

However, Pacman pointed out that the current crypto cycle has been primarily driven by external financial instruments like exchange-traded funds (ETFs) and market pressures rather than “intrinsic” technological progress.

然而，Pacman 指出，目前的加密貨幣週期主要是由交易所交易基金（ETF）等外部金融工具和市場壓力所驅動的，而不是「內在」的技術進步。

The influence of ETFs has introduced a different kind of dynamic, focusing more on integrating crypto with traditional financial markets rather than advancing an ecosystem driven by innovation and tech-centric developments.

ETF 的影響引入了一種不同的動態，更專注於加密貨幣與傳統金融市場的整合，而不是推進由創新和以技術為中心的發展驅動的生態系統。

In discussing the future of NFTs, Pacman believes that for the NFT market to regain momentum and capture new interest, an innovative “twist” on the current models is necessary.

在討論 NFT 的未來時，Pacman 認為，為了使 NFT 市場重獲動力並吸引新的興趣，有必要對當前模式進行創新「扭轉」。

This innovation would need to redefine the value and utility of NFTs, much like the original concept did for digital ownership and art.

這項創新需要重新定義 NFT 的價值和效用，就像最初的概念對數位所有權和藝術所做的那樣。

He compares the needed innovation to the initial disruption caused by NFTs on traditional fungible tokens, which opened up new investment space and creative possibilities in the crypto industry.

他將所需的創新與 NFT 對傳統可替代代幣造成的最初破壞進行了比較，這為加密產業開闢了新的投資空間和創造可能性。