🔎A detailed explanation of the development process of the cryptocurrency world🔍

Only by understanding history can we move towards a farther future.
Only by remembering history can we avoid repeating past mistakes.

🔸Looking forward to future narratives in the altcoin market🔸


I believe the core narrative must revolve around linking the real world.

It will be developed around four main narratives: RWA, AI + Crypto, DeFi 2.0, GameFi, and DePIN. However, it is still unknown who will ultimately realize this and perfectly link to the real world.

However, based on observations over the past six months, the possibility of real-world assets on-chain (RWA) becoming the mainstream driving force of future altcoin narratives is very high. The tokenization of traditional commodities will become a trend in the future. RWA, due to its ability to connect traditional finance and blockchain, has been the focus of institutions and retail investors for the past six months. The high liquidity and transparency of RWA can greatly solve the inefficiency issues of traditional asset markets.

DeFi 2.0 and compliant development may also become core narratives in the future.
Especially in light of the recent SEC's open attitude towards DeFi, the speech by new SEC Chairman Paul Atkins on 'DeFi and the American Spirit' emphasizes economic freedom and innovation, suggesting a shift in regulation from suppression to 'launch first and review later,' providing development space for DeFi projects.

At the roundtable meeting on 'DeFi and the American Spirit' held by the SEC on June 9, the new chairman expressed support for the innovative spirit of DeFi.

He proposed three points: 1/ Code does not constitute a crime 2/ Allow 'launch first and review later' 3/ DeFi symbolizes freedom.

Policy shift: The SEC has suspended high-profile enforcement cases, advocated for self-custody wallets and on-chain activities (such as staking), and no longer views software developers as brokers. This marks a shift from past suppression (suing multiple platforms since 2023) to support.

In the long run, the SEC's open attitude will provide a more relaxed compliance environment for DeFi projects, reduce legal risks, and attract institutional capital inflow.

However, regardless of the current market environment, the liquidity of altcoins remains dispersed, and the possibility of a comprehensive 'altcoin season' is very low. Even if a new core narrative emerges in the second half of the year or in the future, it will still need to focus on leading projects.

As for AI and DePIN, they are definitely good narrative subjects, but how to achieve a perfect link to the real world and ultimately fully realize it, I feel that there are currently not many signs of this. After all, many blockchain projects have not been able to issue tokens to develop and go further.

I have repeatedly expressed that the logic of market competition has gradually been completely led by institutions since 2019. Whether the core narrative of future altcoins can emerge depends on the direction of policy support and the core needs of institutions.

Only in this way can we capture the alpha of the future altcoin market.