Recently, the rhythm in the crypto world is quite interesting: Bitcoin and Ethereum are still adjusting slowly, while platform tokens have suddenly surged.
On the other hand, the recently strong BIO and RuneCoin (RUNECOIN) are indeed impressive, charging upward without pause. However, to be honest, there hasn't been much excitement in the Bitcoin ecosystem lately; it feels a bit 'stale'.
Looking at the data is more intuitive: the total market value of cryptocurrencies is about 30 trillion RMB, the total market value of A-shares is 100 trillion, and the US stock market has reached 460 trillion. Just looking at the US stock market, it accounts for nearly half of the global stock market, which is indeed quite daunting.
Comparing with the stock market is even more interesting: the US stock market has been around for over a hundred years, with more than 6,700 stocks; our A-shares have only been around for 25 years, yet have already accumulated over 5,400. But the essential difference is obvious—US stocks have built their market value on substantial increases, while we are more reliant on the number of 'new listings' to accumulate.
Back to the crypto world, the head effect is becoming increasingly obvious: Bitcoin steadily occupies half of the total market value of crypto, with Ethereum accounting for 13%; excluding stablecoins, the older mainstream tokens like XRP, BNB, and SOL combined only account for 12.8%. This situation is somewhat similar to the US stock market, where the 'Tech Giants' (like Apple, Microsoft, Nvidia, etc.) directly account for 26% of the US stock market's value; market leaders can consume most of the cake.
Ultimately, regardless of the market, the head effect is a hard fact. The true leaders in the industry, those with irreplaceable attributes, will definitely be more resilient and able to appreciate in value over the long term. Just like Bitcoin's position in the crypto world cannot be replaced, gold forever holds weight in the realm of precious metals, Moutai stands alone in the liquor circle, and antique calligraphy and paintings have an unchallenged status in the collection world. This 'irreplaceable' hardcore attribute is the foundation for a sustained bullish trend.
