The bull market boom is heavily dependent on two main factors, the influx of external capital and the increased leverage of internal capital.Influential financial entities like BlackRock play a key role in driving external capital, especially with the expectation that the Bitcoin Spot ETF could be a game changer for the crypto market.In 2020, benefiting from the innovation of DeFi Summer, a number of CEX successively launched the function of “new coin mining”, which is a new way of playing combining IEO and DeFi’s liquidity mining, when CEX uploads new projects, users don’t need to spend money to grab chips, and can get new assets by pledging assets stipulated by the trading platforms