What secondary tracks in future crypto are worth retail investors' attention?
The difference in this cycle compared to the previous cycle is that, in the last cycle, people's attention was focused on high annualized returns and payback speed,
chasing opportunities for gold mining and first-mover advantages, before transitioning to narratives (NFTs and the Metaverse).
In this cycle, people will concentrate their attention and quickly embrace narratives, then swiftly transition from narratives to valuations, and then the low valuations will drive MEME explosions.
The future attention of people is still uncertain, but some tracks have already occupied favorable positions.
1. Restaking & AVS
EigenLayer $EIGEN has already launched six AVS on Stage-3 mainnet, with nearly 70% of the staking volume still concentrated in the top 3.
LRT
The track is still in its early stages, and after a round of speculation in 2023, it has not formed a market leader.
2. RWA 2.0: On-chain National Debt & Yield-bearing Stable Assets
BlackRock's BUIDL scale has reached 2.9 billion USD, with on-chain national debt market value < 10 billion.
It has not yet formed a scale, the track is still in its early stages, but it has already captured attention.
3. Bitcoin L2 / Runes
Bringing smart contracts to $BTC has always been the ultimate goal of crypto, and L2 is generally considered the most likely path to achieve this.
Currently, the $BTC DeFi TVL < 2.5 billion, only 1/20 of Ethereum, while Ethereum's market value is only 13% of BTC.