Currently, most transaction fees come from two sources: one is speculative demand within the crypto industry, and the other is real-world demand from external use cases. The former is mainly represented by DeFi or RWAfi, while the latter is being driven by AI. Many people haven’t explored the potential of the latter enough. This round of stock memes is still an attempt at 'a small horse pulling a big cart.' Taxes or dividend fees are entirely derived from speculative trading demand, with the narrative built on top of that story. The Ponzi model is already in place. Next, it’s about using major industry narratives to drive funds and assets into the space, which will then fuel leverage and spark prosperity. These are the two most interesting highlights of this cycle. Right now, I’m also most interested in these two!