I've been thinking lately about how to outperform ETH and find alpha?
I've chosen a few targets:
ENS, ENA, Lido, Bored Ape, CRV
But can these targets really outperform ETH? Let's take a look at the historical K-line data:
Lido: In 2023, it slightly outperformed ETH by about 0.5 times, but then the coin's value dropped significantly.
Bored Ape: From September to November 2023, it outperformed ETH by about 0.5 times, but the subsequent sharp decline caused it to lose its advantage. Moreover, compared to BTC, the cost-effectiveness of Bored Ape's small images seems worse.
ENA: The coin's value has already doubled, and its potential seems limited.
ENS: In December 2023, the coin's value tripled and then quickly fell back, now it has doubled, which is not very interesting anymore.
CRV: In September 2023, the coin's value rose by 1.5 times and then started a long-term decline, now it has risen to 2 times, and the risk has clearly increased.
Apart from Lido and Bored Ape, most other targets have significant unlocking pressure.
I am most optimistic about CRV and Bored Ape, as these two targets have a higher probability of outperforming ETH.
CRV has a new story with RWA, which may bring new opportunities in the future.
Bored Ape just needs to enter at the right price point, and it should be fine.
But the biggest core issue is that these targets are too old. If a new bull market enters, everyone's attention should focus on new targets, rather than chasing an “old dream” again.
So, are there any new targets you see in the ETH ecosystem?