The HTX investment research team's tens of thousands of words article does have something to say. They did not blindly shout orders, but took a very high macro perspective. The biggest impression after reading it is in eight words: 'The grass and grass end, and the regular army takes over'. The white paper repeatedly emphasizes a core logic - digital assets have transformed from "cyclical speculative goods" to the "second layer infrastructure" of the global financial system. Previously, retail investors relied on cycles and emotions to speculate on currencies, but in the future, they will have to compete with structural trends and macro liquidity. The pricing power of encryption is completely shifting from retail investors to Wall Street and sovereign funds. BTC's ultimate positioning: long-term volatility convergence, anti inflation defense The white paper predicts that the market value of Da Bing may surpass that of gold in the next decade. This means that its trend fluctuations will decrease, and the ups and downs will converge. In the future, BTC is only suitable for long-term bottom position defense. Don't expect it to bring you explosive returns dozens of times, what you earn is long-term macro premium money. Valuation of Ethereum (ETH): Core Interest bearing Assets ETH is defined as the core carrier of "on chain revenue assets". Its driving force is shifting from "high inflation incentives" to "real cash flow". If the staking and protocol revenue of the ETH ecosystem can run smoothly, it will be the only hen on the chain that can continuously lay golden eggs. Trading ETH at low prices to earn interest is a standard practice for large funds in the future. Two Super Rising Waves in the Next Decade: AI and RWA AI Agent (Intelligent Agent Economy): Predicts that AI agents will become the "core transaction and execution nodes" on the chain. Staring at the underlying AI+Crypto infrastructure coins that provide computing power, data, and payment interfaces for AI is the super trend of the next decade. RWA (Real Asset On Chain): US Treasury bonds and fixed income on chain transactions are expected to explode, even forming an "on chain securities market". Focus on the top RWA protocols, which are the best springboard for traditional funds to enter the market. It is predicted that stablecoins will become the "third largest US dollar market in the world" after bank deposits and US Treasury bonds. This means that whoever holds the right to issue stablecoins and payment infrastructure holds the core printing press. In the future cryptocurrency market, the probability of retail investors getting rich by targeting the market will become increasingly low. Mainstream coins will be bought by Wall Street institutions and even "sovereign funds" as a sure fire weapon. As traders, our strategy must follow smart money: holding a stable position in BTC/ETH to reap the dividends of the times, and excess returns rely entirely on ambushing the leaders of AI and RWA tracks.