Institutional funds are pouring in, and the era of on-chain asset tokenization is here. Retail investors are not completely losing the initiative. As long as you focus on the right areas, you can still enjoy the benefits of one or two more cycles.

The safest choice is mainstream assets like BTC and ETH—high liquidity, relatively controllable risk, and institutional adoption. But opportunities are not limited to these. Projects with genuine innovative significance and strong teams often emerge during cycle transitions. Although this round of market did not see a big breakout like the altcoin season, new varieties like Perp and prediction markets have still made a name for themselves.

Looking ahead, the next cycle will inevitably bring new species—perhaps a new paradigm for the AI economy, an upgrade and iteration of DePIN infrastructure, or a new track emerging from the wave of asset tokenization. The key is to identify trends early, rather than waiting until the entire network is discussing them and only then realizing.