Continuing to distinguish between mainstream coins and altcoins for the upcoming cryptocurrency investment logic is no longer valid. This classification method is essentially a remnant framework left over from the early speculative cycle.
In fact, a number of application protocols with long-term effective yield models have emerged on-chain. They do not rely on narrative rotations or are completely subject to emotional cycles but continuously generate value through real usage, transaction fees, and network effects.
For example, protocols like Hyper, AAVE, SKY, Ldo, link, and Polymarket have established stable economic closed loops in their respective niche areas. Among them, especially Hype and Polymarket, are directly challenging the core financial functions long dominated by centralized exchanges, and their growth rate and user penetration curve are not exaggerated to describe.
The future cryptocurrency investment logic will increasingly approach the repricing of infrastructure and application layer value, rather than a simple mainstream or altcoin rotation game.
The potential and rapid expansion demonstrated by on-chain applications is the most important gift for the new generation of holders. With the strengthening of regulatory constraints and the intensifying competition among on-chain protocols, the influence of centralized exchanges on overall market pricing and rhythm is destined to be continuously weakened.
In the upcoming cycle, do not live in the old framework of past speculation; both institutional and retail investors will change their capital allocation logic as the market matures.
