【If this bull market’s last remaining thing that can go up is “coins with income,” can your coins hold up?】
Lately, I’ve been feeling more and more that this cycle’s market is showing a very clear shift:
In the past, everyone was trading “narratives.”
Now the market is starting to ask:
Is this protocol actually being used?
Is there income?
Does the income ultimately flow back to the Token?
Take DeFi, for example—its renewed attention isn’t only because TVL has risen. It’s because the market is starting to re-evaluate the idea of “protocol revenue.”
That’s also why I currently lean more toward ecosystem assets like $ETH and $HYPE , and even $LDO —things that genuinely have usage demand.
But there’s also a harsh question here:
If, in the future, the market really shifts from “trading narratives” to “looking at fundamentals,”
then many coins that only have community, stories, and a roadmap—but no real usage—may find it increasingly hard to attract capital.
So I’m curious about everyone’s choices right now:
If you could only pick one, which one would you buy?
A. Has income and cash flow, but tends to grow more slowly
B. Not much income, but the narrative is strong and it has high explosive potential
C. I don’t care about fundamentals—only price and cycles
D. Other—discuss in the comments below
As for me, I currently lean more toward A, plus a small portion of B.
Lately, I’ve been feeling more and more that this cycle’s market is showing a very clear shift:
In the past, everyone was trading “narratives.”
Now the market is starting to ask:
Is this protocol actually being used?
Is there income?
Does the income ultimately flow back to the Token?
Take DeFi, for example—its renewed attention isn’t only because TVL has risen. It’s because the market is starting to re-evaluate the idea of “protocol revenue.”
That’s also why I currently lean more toward ecosystem assets like $ETH and $HYPE , and even $LDO —things that genuinely have usage demand.
But there’s also a harsh question here:
If, in the future, the market really shifts from “trading narratives” to “looking at fundamentals,”
then many coins that only have community, stories, and a roadmap—but no real usage—may find it increasingly hard to attract capital.
So I’m curious about everyone’s choices right now:
If you could only pick one, which one would you buy?
A. Has income and cash flow, but tends to grow more slowly
B. Not much income, but the narrative is strong and it has high explosive potential
C. I don’t care about fundamentals—only price and cycles
D. Other—discuss in the comments below
As for me, I currently lean more toward A, plus a small portion of B.