Original author: Haotian, crypto researcher
After Bitcoin breaks the $100,000 mark, driven by market recovery and Pump, a review of the top 10 popular narratives that could explode at any time:
-modular;
-Inscription, Rune;
-Ethereum Layer2;
-Restaking;
-Bitcoin Layer2;
-intent centric;
-chain abstraction;
-AI +;
-zkVM;
-PayFi;
If you were to rank the above popular narratives, which one do you think will recover first?
1) Modular expansion -> Ignited commercial expansion scenarios such as DA, AltVM, shared Sequencer, decentralized Storage -> Stuck in severe infra homogenization, high FDV, and a generally bearish capital mire;
2) Ordinals inscription -> Became a 'diversified' innovative singularity for issuing assets on Bitcoin -> Stuck in a dilemma of having too many assets, after Fomo, leading to chaos with no 'empowerment';
3) Ethereum Layer2 -> From Plasma, Validium to Rollup paradigm struggles, then to Rollup layer2 standard disputes (OP/ZK), normative debates (orthodoxy), TPS disputes, Compatible standards (type0, 1, 2, 4), RaaS (one-click chain launch) -> Criticized infra -> application cannot effectively transfuse Ethereum;
4) Restaking -> Sparked an on-chain TVL Farming points craze, brought about business models for AVS output security consensus -> Stuck in slow landing of AVS business closed loop, and post-ecosystem points battle overspending expectations;
5) Bitcoin Layer2 -> Undertook the latter half of the inscription actions, introduced EVM-Compatible chains, isomorphic binding RGB++, ZK General underlying, Native cross-chain bridges, MoveVM, BTCFi-related Stablecoin, lending and other DeFi infrastructure layout trends -> Stuck in overly diverse technical standards, still reliant on DeFi, with no BTC Specific application scenarios emerging;
6) intent centric -> Triggered discussions on a new trading paradigm driven by AI, introduced decentralized Solver networks, stimulated new trends in AMM on-chain market making -> However, it's still too early for AI Agents to execute trades, the demand for slicing in the Solver network is limited, and chain abstraction infra is not yet complete, making it unable to translate into experience-level 'intention';
7) chain abstraction -> Driven by user experience-oriented infra, contract standards, unified accounts and other 'integration' trends, preparing to onboard more users -> Currently still in the early market phase, criticized as having more concept than substance, needing a phenomenal application to break through;
8) AI Narrative (AI +) -> Comes with a large user base and business scenario demands from web2, connecting with Crypto to generate numerous narrative spaces such as decentralized cloud computing power, distributed reasoning, DePIN, TEE, FHE, Blind Compute, AI Agents -> AI large models are still immature in the web2 field, the demand spilling into web3 is still too small, and time is still needed;
9) ZK General-Purpose (zkVM) -> Leverages the trustless characteristics of ZK technology for messaging between homogeneous/heterogeneous chains, can perfectly split off-chain computation and on-chain verification scenarios, thus becoming the next generation of unified infrastructure connecting chains, applications, and liquidity -> Stuck in overly 'upstream' technology, requiring a long time for application scenario exploration and implementation;
10) PayFI (RWA related) -> Attempted to break the divide between traditional off-chain business scenarios and on-chain basic infra, overcoming compliance, mass adoption, and other limitations, introducing stable income demands for on-chain funds -> Stuck in the fact that merging compliance qualifications and business scenarios is not an overnight job, fighting a lone battle, making it difficult to form a scale effect in a short time;
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