Don't live on Twitter, live on the fundamentals of the project.

Author: Pima

After each major drop, it is the curtain call for the old and the rise of new projects, and it is also the opening of another group of projects that "the young are all here" (a Chinese idiom meaning the rise of new talents). What we need to do is to take investment seriously and carefully select.

In fact, the rhythm is the same every time, just with different protagonists: some projects basically ended the bull market journey before May 19, 2021, and a large amount of time afterwards was only used to struggle to return to the previous highs, such as DeFi/DOGE\BNB/DOT/MATIC represented by UNI.

Some projects, after May 19, 2021, are still as strong as young people, experiencing a significant wave, reaching 5-10 times the previous high of May 19, 2021, and only peaking in December 2021, such as SOL/LUNA/SHIB/AXS/SAND, etc.

So, from a personal perspective, what are we observing after this major drop?

1/ SOL and its ecosystem, there's not much more to say, it's impossible to wake up those who pretend to be asleep.

2/ SAGA and its ecosystem, a modular L1 with its own ecosystem boost, the challenge is when the critical point will arrive in importing users.

3/ SUI and its ecosystem, the technology is unquestionable, MOVE and other L1s, facing severe difficulties in importing users, with long-term DAU (Daily Active Users) of 20-50K, the gap with SOL/BNB, which easily reaches 1 million DAU, is getting wider and wider. New things and new brands are far less attractive to ordinary users than expected.

Don't live on Twitter, live on the fundamentals of the project. Sometimes you may feel very hot and fiery, but it may just be a hot topic in your group/village. When you check the on-chain data, only a few thousand people are playing globally, just a small part of the world.

4/ Clob order book. The mission of AMM has been completed, high-capacity L1 needs better adaptive DEX, and the competition is fierce. UNI's V5 also seems to have an order book; which one will emerge among Drift/Hyperliquid/RabbitX, etc.? Does the dual-token Purr have a chance?

5/ How will SocialFi evolve? What kind of native crypto experience will $Friend/Fantasy/DistrictOne bring? How to expand the scale and retention is something that SocialFi needs to further explore.

6/ Will new AI projects have a chance? When will they generate positive revenue? We have seen the harshness and pickiness of the performance of AI companies in the US stock market, and at the same time, they will give great rewards to real performance. The crypto AI will also have revenue, the question is how to expand the scale and establish a moat.

7/ RWA is indeed one of the PMF (Product-Market Fit) paths. When under attack, how to select, I haven't figured it out yet, and it requires collective wisdom $MKR$RIO.

8/ MEME, you think the MEME you bought has been rising all the way, but it's actually very rocky. What you see is only the result, ignoring the torment of the holding process (the torturous STAN/MONK/GIGA). It's interesting to see the struggle between the community cat representatives POPCAT/MICHI and the VC cats during the recent Cat King competition. Currently, the pure community MEME has won, and the anti-VC wind has blown to MEME.

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