Crypto analyst Alex Krüger shared insights on recent developments in the market, highlighting the impact of Bitcoin ETF approvals on the recent surge in the crypto space. While Bitcoin ETFs have driven the market, Ethereum has experienced disappointing performance, despite benefits for stakers and airdrop farmers.

Krüger also discussed the rise and fall of Solana, initially popular among retail traders but succumbing to increased traffic, leading to Coinbase’s L2 Base emerging as a preferred platform. Despite the initial dominance of meme coins, many have dropped to zero, while some continue to outperform the market.

The low influx of retail traders in the current cycle was attributed by Krüger to the aftermath of Bitcoin’s crash in 2022, resulting in missed opportunities for many enthusiasts with the Bitcoin ETF launch. Krüger also expressed concern about the proliferation of "scammy" meme coin launches and founders prioritizing quick profits over sustainability.

Despite the overvaluation of many Layer 2 solutions in the market, Krüger believes that the current cycle still has room to grow and evolve, emphasizing the need for long-term sustainability in the crypto industry.