As the new round of market activity continues to deepen, I feel that the market structure and the logic behind speculation are also quietly changing: From the rapid elimination of "fast assets" to the return of "slow assets" after consolidation: The hype pattern from 13 to 25 years later: (My feeling is that the trend is from slow to fast, and it keeps accelerating.) BTC → Pow meme (represented by: Doge) → ETH ushered in the era of public blockchains → ETH DeFi summer/NFT/GameFi → ETH meme/BSC meme (Shib was the peak, the zoo market) → (BTC ecosystem + Solana era + Base ecosystem) → BSC meme Looking back over the past 25 years, the future trend of hype might be as follows: 1. From fast to slow, the pace begins to decelerate, returning to a more refined narrative (meaning a more solid consensus) + community-driven approach. 2. The funding cycle has started from Sol → BSC → ETH → BTC. The history of crypto begin with BTC and will eventually return to BTC(after the AAVE incident, overseas scholars have already begun to debate and question the fragility of non-bitcoin DeFi). Whether it's $Asteroid or $ordi both are returning after the passage of time and the sedimentation of narratives, which also means a more solid consensus. From the pinnacle of PvP back to PvE From "attention-grabbing fast food" to "consensus building + community first" (Community is first) Big changes are underway.