Here’s another post-2049 reflection on Alts. Hype and Zec are still the most consensus-driven picks: Zec had Mert and Balaji backing it live at the event, still full of bullish energy. The strongest moat for Alts is narratives that can’t be invalidated. It used to be public chains, until Layer 2 challenged that. Now it’s privacy and AI. That’s why Barry’s strong belief in Zec and Tao makes sense. Hype, on the other hand, has its ecosystem coming together, with TradeFi holding the fort. Hype’s trading volume has actually been declining recently. The 60-90 pump benefited from U.S. funds buying in after regulatory loosening, with new narratives bringing new valuation multiples. As for Uni, it’s an interesting pick. It wasn’t brought up much in conversations, but a lot of people mentioned recent OTC activity. Seems like the foundation might be running low on funds—if they’re doing OTC, who’s buying Spot? Near and Zro are also relatively narrative-driven and came up quite a bit in discussions. Both are about cross-chain stories. The former is about the logic of an all-chain exchange, mainly bridging non-EVM chains like Zec, plus it’s backed by Naval. The latter is about the buyback narrative, though it’s about to unlock soon. To be continued…