Currently Disproven Tracks

Gamefi (recently showing slight improvement

Socialfi (Kaito found another good angle

Defi (unclear returns, airdrop/expected value anchoring has significant issues

Layer2 (pseudo demand

NFT (pricing issues

BTC ecosystem (no need for examples

Mixers

Inscriptions Runes

Strong technology but misaligned market demand tracks

Staking (retail investors cannot participate

ZK (very strong technology

LSD

Depin (can be inferred, cannot be trained

Modular (low demand

Chain abstraction (low demand

Cross-chain bridges (low demand

Cloud computing (unverified

Privacy (low demand and far from funds

Intent (nonsensical

Prediction market (Poly dominates

Layer3

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Opinion Alert

Tracks I am optimistic about

Payment Payfi

Some RWA

Derivatives

Sui ecosystem

DEX

Stablecoins

Oracles

Cefi

BTC mining

MCP (AI iteration

FHE

Agent

Storage

MEME

Data analysis

Protocol layer products