Narrative trading and first principles thinking are opposites. 1. Narrative trading Tokens of specific niche are hot → find the one with the best chart → enter → hope the narrative holds 2. First principles What does this token actually do → who pays for that → how does value flow to the token → is the current price below that value One approach makes money when you're early to a crowd. The other makes money when the crowd is wrong. Here are some protocols which fall in this category👇 ‣ DeFi: @aave, @AerodromeFi, @SkyEcosystem, @maplefinance, @pendle_fi ‣ Derivatives: @HyperliquidX, @JupiterExchange ‣ AI, DePIN: @bittensor, @helium ‣ Infra: @ethereum, @solana, @chainlink, ‣ NeoFi: @ether_fi

cool eco