The crypto space is well over a decade old with more than 5,500 different cryptocurrencies and a market capitalization north of $250 billion. Researchers at American venture capital firm Andreessen Horowitz say the 11-year old industry is in its fourth supercycle with the three previous epochs culminating in distinct developments that have gone on to shape the market as a whole.
In a report issued earlier in May, the VC firm posited that despite the apparently chaotic nature of the crypto market, each previous cycle has proceeded in roughly the same order. According to the report, every new stage begins with a massive increase in Bitcoin’s (BTC) price that triggers renewed interest in cryptos leading to the emergence of new ideas and startups.