Four narratives to watch in xH2, with only directly tradeable assets listed for each.
Privacy
$ZEC and $XMR are the main plays; $AZTEC, $RAIL, and $ZAMA offer exposure to Ethereum privacy.
BTCFi + stablecoins
$BABY, $SOLV, and $BARD are BTC yield plays; $ENA is a yield-bearing stablecoin that has expanded into equity basis trades.
AI compute rentals
$AKT, $RENDER, $ATH, and $IO. $TAO is a model marketplace, not a GPU rental platform.
Buybacks and burns
$HYPE and $UNI directly burn fees; $AAVE is still buying back tokens into its treasury, with no burn implemented yet; $PYTH just passed a proposal to use all revenue for buybacks.
Privacy
$ZEC and $XMR are the main plays; $AZTEC, $RAIL, and $ZAMA offer exposure to Ethereum privacy.
BTCFi + stablecoins
$BABY, $SOLV, and $BARD are BTC yield plays; $ENA is a yield-bearing stablecoin that has expanded into equity basis trades.
AI compute rentals
$AKT, $RENDER, $ATH, and $IO. $TAO is a model marketplace, not a GPU rental platform.
Buybacks and burns
$HYPE and $UNI directly burn fees; $AAVE is still buying back tokens into its treasury, with no burn implemented yet; $PYTH just passed a proposal to use all revenue for buybacks.