Let's turn our attention back to Crypto My current watching list After the initial sifting and weeding out, these are the sectors in the crypto that still have compelling stories to tell. 1. Real-world asset transactions (I don't really want to call it RWA) $HYPE: Hyperliquid not only addresses the needs of Crypto insiders to speculate on real-world assets and maintain privacy, but also solves the financial industry's need for weekend trading and hedging of real-world assets. Essentially, it's one of the last remaining gems in the Crypto world. However, from a fundamental perspective, trading volume is still declining due to the bear market, and the current FDV is still too expensive for me. I don't want to buy at this price, but I'll consider it if it drops further. $ONDO: ONDO is one of the few projects whose TVL has consistently increased during this bear market, and it's arguably the best project in the US stock market to go on-chain. Its liquidity and trustworthiness are top-notch. However, it currently only seems to meet the trading needs of those in the crypto industry, with virtually no liquidity over the weekend. Nevertheless, the price has been consolidating for a long time, but the fundamentals remain positive, so I'm willing to pay some attention to it. 2. Stablecoins I won't say much about Circle; decent people who buy Circle don't need to look at brands like Ethena. $SKY: It exhibited a bullish candlestick pattern even during a bear market, boasting stable buybacks, high-quality project teams and founders. From a purely fundamental perspective, if SKY represents equity, I believe it's even better than Circle. But there are no "ifs." 3. AI $TAO: I believe TAO's fundamentals have undergone a major change. Whether it's the emergence of numerous high-quality subnets or the strong involvement of Grayscale and Silicon Valley giants, TAO now possesses all the elements for a price surge. With strong fundamentals, capital inflows, and a key figure, that's more than enough. $Virtual: They've consistently built their presence throughout the bear market, covering almost all AI narratives effectively. They're undoubtedly the leader in the Base ecosystem, nothing more to say. If the crypto continues to hype AI, Virtual is practically unavoidable, and they're also heavily investing in robotics. This dual narrative provides them with significant support.