What other secondary tracks of crypto in the future are worthy of retail investors' attention? The difference between this cycle and the previous cycle is that in the last cycle, people paid attention to the high annualization and return rate. Chase for gold panning opportunities and first-mover advantages, and then transition to narrative (NFTs and metaverse). And people in this cycle will focus and quickly accept the narrative, and then quickly transition from the narrative to valuation, and then the low valuation will drive the MEME explosion. The future of attention is still unknown, but some tracks are already in a good position 1.Restaking & AVS EigenLayer $EIGEN has launched six AVSs on the Stage-3 mainnet, and nearly 70% of the staking volume is still concentrated in the top 3 LRT The track is still in its early days, and it has experienced a round of hype in 23 years, but it has not formed a market dominance 2. RWA 2.0: On-chain treasury bonds & income-based stable assets BlackRock's BUIDL has reached $2.9 billion, and the on-chain Treasury market value is < $10 billion Not yet on a scale, the track is still early, but it has already taken the spotlight 3.Bitcoin L2 / Runes Bringing smart contracts to $BTC has always been the ultimate goal of crypto, and L2 is generally considered the most likely route to achieve Now $BTC DeFi TVL < 2.5 billion, only 1/20 of Ethereum, and Ethereum's market cap is only 13% of BTC