Chainfeeds Summary:

When the market is flat, it's a good time to make plans. The Chinese version was compiled and published by TechFlow.

Source:

https://www.techflowpost.com/article/detail_24162.html

Author:

Game

Viewpoint:

Game: 1) ETH Staking Revival: ETH needs a lifeline, and staking is the only narrative that can save it. In line with the current macroeconomic situation: yield is king, and investors want cash flow in a bleak environment. LDO and RPL are obvious proxy plays, but due to the lack of a timeline, time is everything. BlackRock CEO Larry Fink has pushed this narrative before and may do so again. With crypto-friendly management institutions, incentive measures will be rolled out. No one wants to be exposed: uncertainty keeps people on the sidelines, but once the right fund managers or analysts start moving, it will develop quickly. 2) Large Token ETFs (LTC, HBAR, and Betas): LTC, HBAR, and XRP are all in the ETF application process. The most likely narrative for this is "buy on the rumor, sell on the news." Expect no massive inflows, but proper positioning can still yield handsome returns. If the news announcements come too fast, liquidity will shift quickly, and exiting will become tricky. The best case is staggered ETF approvals, so you can rotate appropriately. Time your moves carefully, and don't be the last one holding. 3) Buyback Clubs (Fee Switches and Buybacks): MKR previously pumped 200% due to buybacks, and AAVE surged 30% within days of announcing buybacks. Hyperliquid buys back $600 million per year. Jupiter buys back $250 million per year. Ethena's fee switch is coming soon. Reduced supply, reduced sell pressure. Reflexivity (the circular relationship between cause and effect) starts to kick in, buybacks push up prices → generate more fees → fund larger buybacks → cycle. The narrative is strong, traders front-run the buybacks, only accelerating the whole cycle. More protocols will follow, buybacks and fee switches are becoming the go-to price appreciation strategies. Trade on news, don't trade in the middle of the curves, don't take profits too early, study past price behavior. Prioritize new/breaking news announcements over past ones. (HYPE's buyback hype was great, but it has already played out, new catalysts are crucial).