In a harsh market environment where most people believe that "VC coins are dead," "the technology narrative has vanished," "the certainty of exchanges has plummeted," and "all trades are MEME," I actually think the time to buy the dip in tech projects has arrived.

Written by: Haotian

In a harsh market environment where most people believe that "VC coins are dead," "the technology narrative has vanished," "the certainty of exchanges has plummeted," and "all trades are MEME," I actually think the time to buy the dip in tech projects has arrived:

1) The overall expectation of shorting the altcoin season has indirectly lowered project valuations.

Some excellent projects and poor projects go through the same stages of airdrop -> fundraising -> market consolidation. Therefore, under the curse of many poor projects peaking when they issue tokens, quality projects will inevitably be wrongfully killed by the prevailing emotions. This presents an opportunity for us to accumulate some quality projects at a low price; for example, what would today’s $ZKC and $PROVE look like in the TGE environment of $STRK?

2) There is a natural misalignment between the build cycle of tech projects and the market's breakout cycle.

We are currently in a silent period of technological accumulation, with ZK, TEE, AI infrastructure, intent trading, high-performance chains, etc., having issued a bunch of tokens, all becoming "technical debt." However, this type of infrastructure needs to wait for an explosion at the application layer. When the market experiences another application layer explosion similar to DeFi or NFTs (AI Agent?), these projects will truly have their day.

3) The holding experience of tech projects and MEME coins is worlds apart.

In a bear market, we can choose a tech project based on technical aesthetics, hold it long-term, and enjoy high multiple growth. While MEME coins may have stronger explosive potential, they require intense PVP competition, 24/7 monitoring, and the enormous opportunity cost and psychological pressure that most people cannot bear. In a passive environment where one cannot control the value fluctuations of their holdings, actively choosing a comfortable "holding experience" is crucial.

4) The market is undergoing a structural clearing of "technical debt" narratives.

Projects that purely create concepts, chase trends, and lack a certain market share and ecological discourse in key tracks will be completely eliminated. In contrast, those that define technical standards, guide industry technological progress, and have bilateral markets for supply and demand will certainly be waiting for a second bloom.

5) The era of great integration in TradFi has opened up new value anchors.

The procurement demands of traditional Wall Street structures will provide new value anchoring for tech projects. Those that can provide upstream infrastructure for new inflows of funds and users into TradFi will certainly have great prospects. Additionally, projects that are willing to repurchase tokens after achieving product-market fit (PMF) and those DATs that can continuously bring in incremental funding will have greater opportunities. The industry's competition has brought about a high cognitive threshold but has also defined new valuation and selection methodologies.

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