Industry and institutional players' strategic movements often reflect the true market expectations. Recently, several interesting phenomena have been observed: some leading asset management institutions are applying for spot ETFs. What does this indicate? The channels for traditional capital to enter are gradually opening.

Let's first look at the primary path—clear institutional deployment directions. The performance of certain Layer 1 ecosystems is worth noting, with DEX trading volumes surpassing the 16 billion level, and ecosystem activity continuing to rise. Projects like these often serve as entry points for institutional allocation, with relatively manageable risk levels.

Next, the second path—projects with solid fundamentals. A deflationary mechanism combined with actual income repatriation is a good combination. Genuine profit buybacks and burns, rather than empty promises. These projects have also partnered with large groups to develop stablecoin ecosystems, starting from the perspective of the Japanese yen stablecoin, which is a very prudent approach.

The third path is more about short-term market intuition—the most popular varieties. Some projects can achieve over 50% gains within 24 hours, indicating extremely high participation. Coupled with sports data and incentive mechanisms, short-term enthusiasm may continue.

Additionally, emerging concept projects are accumulating, with relatively light trading activity and fresh story frameworks. These are often more likely to become market sentiment relay points.

Overall, for long-term strategic deployment, focus on targets with stable fundamentals; for mid-term, pay attention to projects with solid fundamentals; for short-term, participate in hot varieties; and for small-scale positioning, explore new concepts. Different risk preferences have corresponding strategies. The market now is a multi-track parallel scenario—which direction do you prefer?