When the market is calm, it is a good time to make a plan: carefully consider what will happen next, where the narrative is forming, and where liquidity will ultimately flow.

1. ETH Staking Revival

ETH needs a lifeline, and staking is the only narrative that can save it.

Consistent with the current macroeconomic situation: yield is king, and investors want cash flow in a bleak environment.

$LDO, $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, $XRP are all in the ETF application process.

The most likely narrative for this is "buy on the rumor, sell on the news". Significant inflows are not expected, 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, don't be the last one holding.

3. Buyback Clubs (Fee Switches and Buybacks)

MKR previously rallied 200% due to buybacks, and AAVE rallied 30% within days of announcing buybacks.

• Hyperliquid → $600 million in buybacks per year
• Jupiter → $250 million in buybacks per year
• Ethena → Fee switch coming soon

Reduced supply, reduced selling pressure.

• Reflexivity (the circular relationship between cause and effect) starts to kick in: buybacks drive up prices → generate more fees → fund larger buybacks → cycle.
• Highly narrative-driven: traders front-running the buybacks, which will only accelerate the whole cycle.

More protocols will follow suit: buybacks and fee switches are becoming the preferred 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 buyback hype was great, but it has played out, new catalysts are important)

4. RWA and Tokenization

The previous $ONDO has already kicked off. The new "game" will become the focus.

This narrative fully aligns with TradFi's interest in tokenization.

Current watchlist:

• $PLUME: Mainnet launch will bring a new, powerful narrative
• $AERO: A project most people haven't noticed yet. If Base continues to build its own blockchain, considering its strong ecosystem associations and recent directional shift, this could be a "favorable" trading opportunity.
• $SYROP (formerly MPL): Added to the Coinbase roadmap, likely to list in the coming weeks.

More quality projects may emerge in the future. RWA is a category worth closely monitoring.

5. Robotics and Potential AI 2.0 Trades

Figure AI (a company dedicated to developing autonomous general-purpose humanoid robots) is at the forefront of the humanoid robot space. Tesla is heavily pivoting towards automation, essentially its entire current bet.

The narrative is simple: increased productivity = cost savings for companies, which is attractive in an economic slowdown.

Risks are still high, but the meta is forming.

On-chain exposure is limited but will grow, currently mainly early-stage foundational projects.

The current opportunity is to find virtual robot proxies. Similar situations have occurred before: the robots themselves may be completely useless, like all the junk robots, but the underlying infrastructure is the real trade. (No need to show the actual thing, as long as others are using it)

If the price is cheap enough and you have an edge in your analysis, get in now, or closely monitor and react as needed.

6. Other Sovereign Participation

Currently, crypto trading is entirely dependent on the decisions of the United States: policies, ETF flows, regulations.

If other T1/T2 countries get involved, it will break the US dominance and trigger a new hoarding race.

This narrative is unpredictable, but once it happens, the market will change quickly.