Garbage time in August. The market is dead, but they are quietly growing wildly. BTC is trading sideways, and the rotation of counterfeit stocks is accelerating, leading to a worsening market sentiment. But what's interesting is that: The price hasn't changed much, and even many people are losing money; On the other hand, the revenue, repurchases, on chain usage, and supply data of a few projects continue to improve. I have been keeping an eye on 5 recently: one ️⃣ HYPE: Cash Flow+Repurchase Destruction In the past 30 days, the agreement revenue was approximately $40M, and in Q2, the agreement revenue was approximately $201.8M. During the same period, approximately $148.6M was repurchased and approximately 51.59 million tokens were destroyed. This is not a 'possible repurchase in the future'. But the protocol is already using the earned money to buy back tokens and destroy them. This is also the most worthwhile aspect of HYPE to study: Agreement revenue → repurchase → supply reduction → value capture. Of course, the risks are also evident: income is highly dependent on trading activities, and valuations are not low. But in altcoins, the ability to directly link real income and token value is already scarce. two ️⃣ AAVE: Revenue is increasing, but buybacks have stopped AAVE currently has a TVL of approximately $22.8B, a loan size of approximately $15.4B, and an agreement income of approximately $6.9M in the past 30 days. More importantly, income growth: From approximately $5.2M in 2022 to approximately $141.8M in 2025. The DeFi lending business itself is generating more and more real income. But this must be made clear: Repurchase will be suspended from April 19, 2026. Previously, the cumulative repurchase has exceeded 205000 AAVEs. So AAVE is not a story of 'continuous repurchase' now, but rather: Real income growth+historical repurchase ability+potential catalyst for future repurchase restart. Speaking out the risks is actually more worthwhile to study. three ️⃣ LINK: RWA is transitioning from storytelling to infrastructure The logic of LINK is completely different from HYPE. It is betting on: Traditional financial assets are gradually moving onto the chain. In July 2026, DTCC has completed production level transactions related to tokenized securities, with Chainlink participating; The DTCC tokenization service is also planned to be further promoted. DTCC itself connects over $100T level custodial assets and a large number of financial institutions. The market's long-term expectations for the scale of tokenized assets are also rapidly increasing. But LINK's biggest controversy cannot be avoided either: Chainlink is adopted with ≠ LINK token to automatically obtain an equal proportion of economic value. So what is truly worth observing is not just whether RWA will grow. But rather: After RWA growth, can Chainlink truly translate infrastructure requirements into LINK's value capture. four ️⃣ SOL: Network usage is still increasing SOL does not rely on buybacks to tell stories. It should look more at: How many people are actually using this chain. The ecological handling fee is about $211M in the past 30 days, and the weekly handling fee ratio is still increasing; The stablecoin size is about $16.7B, and DeFi TVL is about $5.5B. The handling fee is certainly not a perfect indicator, as it includes high-frequency trading, arbitrage, and speculative activities. But at least explain: Solana's on chain economic activities are real, not just narrative. So the core logic of SOL is: Network usage → economic activities → transaction fees → network value. five ️⃣ OKB: The supply side has been permanently compressed OKB is the most unique. By August 2025, OKX will destroy approximately 279 million OKBs at once, permanently reducing the total supply from 300 million to 21 million. Meanwhile, the relevant mechanisms have removed the casting and manual destruction functions. So OKB is not betting on how much they will repurchase in the future. But rather gambling: 21 million fixed supply+OKX/X Layer ecological demand. Of course, its biggest risk is also clear: OKB has a high dependence on the OKX ecosystem and is essentially still a platform asset. So these 5 coins actually correspond to 5 completely different logics: ⊙ HYPE: Agreement Cash Flow+Repurchase Destruction 
 ⊙ AAVE: Revenue Growth+Potential Repurchase Restart 
 ⊙ LINK: RWA Infrastructure+Value Capture 
 ⊙ SOL: Real Network Usage+On Chain Economic Activities 
 ⊙ OKB: Fixed Supply+Platform Ecology This is what I think is the most worthwhile thing to see during this' garbage time 'in August. Not guessing the next hundredfold coin. But instead, go find: Whose income is still rising? Whose on chain usage is still rising? Whose supply is shrinking? Who is turning stories into real business? In a bull market, narrative can push everything up together. During garbage time, fundamentals only begin to speak. So: Idle money investment, no leverage, no chasing after price increases, build positions in batches. It's not that these 5 coins will definitely rise. But when the fundamentals of most altcoins begin to deteriorate, at least a few projects' data are quietly growing wildly.