The bull market is not just heating up — it’s entering a new, more dynamic phase. While many investors are still catching up to the momentum, savvy participants are already positioning themselves for the next wave of opportunities in emerging ecosystems and high-potential airdrops.
This isn’t speculation. The data, ecosystem growth, and macro catalysts all point to one conclusion: we’re now in the second phase of the 2025 bull cycle.
Understanding the Two Phases of the Bull Market
Every major crypto bull run unfolds in stages. Recognizing where we are helps determine strategy.
Phase One: Cleanup and Foundation
The first phase was about laying the groundwork:
- Resolving regulatory overhangs from the previous cycle
- Approval of Bitcoin ETFs
- Surge in Solana-based innovation
- Early airdrops like JITO and ETHFI rewarding early adopters
This phase restored confidence and brought institutional capital into the space.
Phase Two: Expansion and Innovation
Now, we’re entering Phase Two — characterized by:
- Anticipated Ethereum ETF approvals
- Rate cut speculation fueling risk appetite
- Explosive innovation on Bitcoin via Ordinals and Runes
- Growth of Layer 2s and modular blockchain architectures
- Rise of restaking and Liquid Restaking Tokens (LRTs)
- Larger, more valuable airdrops from protocols like Eigenlayer, LayerZero, and major L2s
As Yano, a well-known market analyst, noted:
“There are 4 phases of a bull market. We just entered stage 2.”
This is no longer the quiet accumulation phase. It’s the beginning of broad market participation — the calm before the storm.
👉 Discover how top traders are preparing for the next surge in crypto airdrops and ecosystem plays.
Why Now Is the Time to Act
Bitcoin is currently consolidating in an accumulation zone. All it needs is a catalyst — and several are on the horizon:
- The upcoming Bitcoin halving
- Potential Fed rate cuts
- Institutional adoption (e.g., BlackRock entering DeFi)
- Unexpected breakthroughs in AI-blockchain integration
Markets thrive on narrative. And right now, the narrative is building faster than ever.
But don’t expect a smooth ride. Bull markets are unpredictable. Who could have predicted SBF’s collapse or the sudden rise of meme coins?
Yet one pattern remains consistent: each cycle creates new wealth through innovative token models.
From restaking to real-world assets (RWA), new technological narratives enable protocols to “print money” — not recklessly, but through aligned incentives and community-driven distribution.
Core Strategies for the Current Market
The key to success isn’t chasing every hype coin. It’s identifying booming ecosystems that offer:
- Technical innovation
- Token issuance potential
- Compelling narratives
These become Schelling points — natural coordination hubs where capital and attention converge.
Based on historical patterns and current trends, here are the most promising areas to focus on.
🔑 Core Keywords:
- Airdrop farming
- Restaking protocols
- LRT (Liquid Restaking Token)
- Eigenlayer ecosystem
- Bitcoin Ordinals
- Layer 2 airdrops
- DeFi innovation
- Crypto ecosystem growth
Revisiting the Degen Bull Market Playbook
Four months ago, a comprehensive guide outlined over 60 protocols across 10 ecosystems. Since then, some have delivered; others have faded.
Now is the time to update that playbook — focusing only on those with strong fundamentals, active development, and clear airdrop potential.
Here’s what’s changed:
- BTC > ETH (for now): Bitcoin’s ecosystem is surging thanks to Ordinals and Runes
- Meme coins are getting weirder — but also more mainstream
- Protocols are delaying token launches, extending farming periods through endless point systems
This shift benefits patient farmers. Instead of “deposit, dump, leave,” we’re seeing longer-term engagement models that reward sustained participation.
Endless point systems could prolong the bullish altcoin cycle.
If you're not into meme trading, focusing on high-potential airdrops within growing ecosystems is a safer path to 10x returns.
👉 See which platforms are quietly building the next big airdrops before they go mainstream.
Top Ecosystems to Farm in 2025
1. Eigenlayer & Restaking Ecosystems
Eigenlayer’s mainnet launch (expected April 2025) could trigger one of the largest airdrops yet. Its TVL has exploded from $262M to $12B — a 4,480% increase.
With over $8B locked in LRT protocols, most users are farming via:
- EtherFi (eETH)
- Renzo (ezETH)
- Swell (rswETH)
- Puffer (pfETH)
- Kelp (KEP)
Key Opportunities:
- EtherFi: Deposit eETH for 20% APY + double points for Eigenlayer and EtherFi airdrops
- Renzo: Fastest-growing LRT with Binance Labs backing; ideal for multi-chain farmers
- Swell: Token launch confirmed for mid-April; includes native L2 with staking yield
- Kelp: Controversial but profitable — launched KEP token as liquid EIGEN points
💡 Pro Tip: Use Pendle Finance’s Yield Tokens (YT) to hedge yield exposure while maintaining airdrop eligibility.
2. Stacks (Bitcoin L2)
Stacks brings smart contracts to Bitcoin. With Nakamoto upgrade bringing 5-second block times, it’s poised for breakout growth.
Despite TVL growing from $35M to $176M in four months, mining remains under-saturated.
Top Protocols:
- Stacking DAO: Stake STX for stSTX; earn double points on Bitlow DEX
- Lisa: New liquidity staking protocol — join waitlist early
- Arkadiko: Mint USDA stablecoin by locking STX
- Zest & Hermetica: BTC-native lending and derivatives (testnet active)
Early movers here could capture outsized rewards.
3. Starknet
Despite initial disappointment over STRK airdrops, Starknet remains technically strong:
- Unique Cairo language reduces fork spam
- High-value dApps like Nostra ($200M TVL) and Ekubo (top DEX)
- Second STRK airdrop likely due to low TVL/FDV ratio ($314M vs $19B)
Farm across:
- Nostra – leading lending protocol
- Ekubo – high LP yields (50%) + farming
- Avnu – aggregator with active trading rewards
4. Solana
Solana remains an airdrop goldmine. Even after major drops (JITO, TNSR), new protocols continue launching incentives.
Watch These:
- Kamino: Season 2 live; leveraged vaults offer high returns
- Sanctum: LST aggregator with $6.1M funding; INF pool yields 9.3%
- Backpack: Exchange + wallet combo with KYC-based anti-sybil measures
- Grass: AI + Solana play; passive income via bandwidth sharing
- Tensor: NFT marketplace adding price-locking features; token launch could reignite interest
Also monitor Parcl (real estate derivatives), Flash.trade (perps), and Drift (margin trading).
5. SUI
Built with Move language, SUI resists lazy Ethereum forks. TVL growth outpaces SEI, INJ, and Aptos.
Farming Strategy:
- Stake SUI for LSTs: haSUI, afSUI
- Provide liquidity on Cetus DEX
- Borrow BUCK stablecoin via Bucket protocol
- Lend haSUI/afSUI on Navi or Scallop for up to 30% APY
High yields + upcoming token launches make this a strong contender.
6. Bitcoin Ecosystem (Ordinals & Runes)
After restaking, Bitcoin’s Ordinals are the second-biggest bull narrative.
Early adopters have already been rewarded with multiple airdrops (e.g., RCR, Runestone). Now, Runes protocol launches at block 840,000 — enabling fungible tokens on Bitcoin.
Opportunities include:
- Holding Bitcoin inscriptions
- Participating in Rune mints
- Using emerging BTC DeFi protocols
Educational threads from @peddy2612 and @DoggfatherCrew provide deep dives.
7. SEI & Injective: Limited Upside
SEI: Limited dApp activity despite V2 EVM plans. Only Silo LST worth farming.
Injective: Exit recommended. Poor UX, typo-filled interfaces, and disappointing airdrops (<$300 despite six-figure deposits). Likely investor dump post-unlock.
Frequently Asked Questions (FAQ)
Q: Is the bull market really in Phase Two?
A: Yes. Key indicators — ETF inflows, regulatory clarity, institutional interest, and ecosystem innovation — confirm we’ve moved beyond early accumulation into expansion.
Q: Are airdrops still profitable in 2025?
A: Absolutely. With protocols like Eigenlayer, LayerZero, and zkSync preparing major drops, early participation can yield life-changing rewards — especially when combined with LRT strategies.
Q: Should I focus on ETH or BTC ecosystems?
A: Both offer opportunities. ETH leads in restaking and L2 innovation; BTC is surging with Ordinals and Runes. Diversify across both for maximum exposure.
Q: How do I avoid missing an airdrop?
A: Use dedicated wallets per ecosystem, interact meaningfully (not just swaps), avoid sybil detection (no botting), and track point systems via platforms like Galxe or LayerZero’s portal.
Q: Are meme coins worth investing in?
A: High risk, high reward. For most investors, structured farming in growing DeFi ecosystems offers better risk-adjusted returns.
Q: What’s the safest way to farm yields while chasing airdrops?
A: Use reputable LRT protocols like Renzo or EtherFi. They offer strong yields, capital efficiency, and high airdrop potential without excessive risk.
The window to position yourself is now.
While some wait for confirmation, others are quietly building portfolios across restaking, Bitcoin L2s, and next-gen DeFi protocols.
The next wave of millionaires won’t be lucky — they’ll be prepared.
👉 Start exploring high-potential airdrop opportunities before they go viral.