About the liquidity dilemma in the current altcoin market: The BTC ETF has siphoned off funds, leading to a divergence in altcoin trends, rendering the previous logic of BTC's new highs driving an altcoin season ineffective. In this context, on-chain 'meme coins' have become one of the few high-odds opportunities, but precise selection is required.

The SOL chain has become the main battleground in the short term due to user activity and good trading depth, while the BNB chain, being slower in pace with a solid community foundation, is suitable for laying low on long-term potential projects. If cross-chain technology or AI Agents narratives rise in the future, it may activate new liquidity. For investors, fund allocation needs to consider both cycles and ecological characteristics: in a bear market, focus on primary market airdrop opportunities; in a bull market, emphasize secondary market explosions, while also being wary of overvalued 'air coins', and prioritize sectors like AI and DePIN that have actual product support.