Beautiful to see CT consensus on a few tokens that lasts longer than a few days. During the last bull run, money and attention spread thin across multiple memecoins and new TGEs. Every fresh launch stole focus from older established tokens. It also helps that many crypto KOLs went silent. Their daily shilling of new tokens kept attention scattered. Now the noise is largely gone and money flows into a few assets at a time so strong narratives can finally form. That's a good thing of bear markets... a healing period where we collectively find out what criteria matter for a token. For HYPE it's revenue to holders + tradfi intersection. NEAR's revenue is still low but AI+intents narratives are strong. Both RAIL + ZEC are driven by privacy narratives, and VVV has strong AI+retail usage tailwinds. I'd still say we're still in a trader's market and HODL are your own risk. Narratives will shift and consensus will change with new tokens. Especially as degens realize that "oh, it's actually possible to make money in crypto" and start chasing for new tokens that are yet to pump. Although HYPE's revenue + tradfi adoption looks more sustainable than probably any other crypto sector.(Ignas | DeFi)