[Long Thread] Which Projects Are Worth Watching When the Market Is Bearish on Everything?

Chainfeeds Guide:

While most people believe that "VC coins are dead," "the tech narrative has disappeared," "listing certainty has plummeted," and "all trading is MEME," I actually think the time has come to buy the dip in technology projects.

Source:

Haotian

Opinion:

Haotian: The overall bearish expectations for the altcoin season have indirectly lowered project valuations. Some excellent projects and poor projects will go through the same stages of airdrop —> token distribution on exchanges —> market making and consolidation. Therefore, under the curse that many poor projects peak at token launch, quality projects are inevitably misjudged by sentiment, which presents an opportunity for us to accumulate positions in quality projects at low prices. For example, what would happen if today's $ZKC $PROVE were launched in the TGE environment of $STRK? There is a natural mismatch between the build cycle of tech projects and their market breakout cycle. We are currently in a silent period of technological accumulation: ZK, TEE, AI infra, Intent-based trading, high-performance chains, etc. Many tokens have been issued, all becoming technical liabilities, but this type of infrastructure needs to wait for an explosion at the application layer to be recognized. When the market sees another application-layer boom like DeFi or NFT (AI Agent?), these projects will truly have their day. In a bear market, we can use technical aesthetics to select a tech project, hold it long-term, and enjoy high-multiple growth. Although MEME coins have stronger explosive potential, they require intense PVP competition, 24/7 monitoring, and most people cannot bear the huge opportunity cost and psychological pressure. In a passive environment where you can't control the value fluctuations of your holdings, actively choosing a comfortable "holding experience" is crucial. The market is undergoing a structural clearing of technical liability narratives. Projects that purely create concepts and chase trends, but lack significant market share and ecological discourse power in key tracks, will be completely eliminated. In contrast, those that define technical standards, guide industry progress, and have a two-sided supply market both upstream and downstream are waiting for a second bloom. The configuration and procurement demand from traditional Wall Street structures will provide new value anchors for tech projects. Projects that can provide upstream infra for new TradFi capital and users have great prospects. At the same time, projects that follow the PMF route and are willing to buy back tokens, as well as those DATs that can continuously bring incremental funds, will have greater opportunities. The industry's internal competition has raised the cognitive threshold, but it has also defined new valuation and selection methodologies.