A new round of methodologies for finding Alpha and Beta in the Crypto market

Author: Haotian Source: X, @tmel0211

Everyone is shouting that the bull is coming, but can we know that the methodology for searching for market Alpha and Beta this time is completely different? Here are a few observations:

1) OnChain+OffChain TradiFi as the main narrative

Infrastructure for Stablecoins: Stablecoins serve as the "blood" connecting traditional finance and DeFi infrastructure, locking in cross-chain flows of stablecoins, APY yield differences, and new innovative expansions;

BTC/ETH Microstrategy "Coin-Stock" Effect: It has become a trend for listed companies to incorporate crypto assets into their balance sheets, and finding potential high-quality targets with the characteristics of "quasi-reserve assets" has become key.

To the Rise of the Innovation Track on Wall Street: DeFi protocols designed specifically for institutions, compliant yield products, and on-chain asset management tools will attract massive funding. The original "Code is Law" has become the new "Compliance is King";

2) Crypto Pure Native Narrative to Eliminate Falsehoods and Accelerate Truth

The Ethereum ecosystem welcomes a wave of revival: The surge in ETH prices will reignite the innovative narrative of the Ethereum ecosystem, replacing the previous Rollup-Centric strategy, with the new ZK-Centric approach becoming the main theme;

High-performance Layer 1 Strength Comparison: It's no longer a TPS competition, but rather about who can attract real economic activity. Core indicators include: stablecoin TVL ratio, native APY yield, depth of institutional partnerships, and more.

The Twilight of Altcoins: The fundamental problem with the widespread existence of altcoin seasons is the lack of sufficient capital momentum. Certain altcoins may experience a "dead cat bounce" market. The characteristics of these assets include: concentration of chips, community activity, and the ability to leverage new concepts such as AI/RWA.

3) MEME coin upgraded from a speculative tool to a market standard

Capital Efficiency: Traditional altcoins have inflated market values and depleted liquidity, while MEME coins, with their fair launch and high turnover rates, have become the new favorites for capital, poised to capture a significant portion of the dying altcoin market share;

Attention Economy Dominance: KOL influence, community culture building, and the hot FOMO model remain core competitive advantages, while liquidity distribution still follows the attention principle;

New Indicator of Public Chain Strength: The market activity of MEME coins will be an important criterion for measuring the comprehensive strength of public chains.