Bull market trend revealed: RWA dominates, DeFi takes off, and multi-line narratives break out. As the crypto market continues to evolve, the narrative of a new round of bull market has gradually taken shape. Different from the previous market mainstream, this round of narratives will be more diversified, involving the on-chainization of real assets, the standardization of decentralized finance, and short-term speculation opportunities such as Depin and bankruptcy events. This article will combine current market observations to explore the potential of RWA, DeFi, Depin and other tracks, and look forward to the direction of the next bull market.

1. RWA: The main narrative of on-chain real assets

The RWA (Real World Assets) track is expected to become the core driving force of the future bull market. The main purpose of this track is to digitize and chain real-world assets such as real estate, debt, bills, etc. through blockchain technology to achieve more efficient liquidity and transparency. Compared with traditional encrypted assets, RWA has stronger real economic value and can attract capital injection from outside the circle.

As the market of projects such as ONDO warms up, RWA begins to enter the public eye. Although the prices of some projects have adjusted back in the short term, this does not mean that the development trend of RWA is hindered. On the contrary, such adjustments provide a more solid foundation for future outbreaks. RWA has not only been widely recognized in the crypto circle, but also recognized and invested by traditional financial institutions, which is also the key reason why it has become the main wave narrative. As the layout of capital gradually deepens, the RWA track will lead the market into a new growth cycle.

DeFi (decentralized finance) has been on the rise since 2019 and has driven several bull markets, but the legal issues and regulatory pressures that followed have also gradually emerged. The past few rounds of regulatory turmoil have caused the DeFi sector to experience several major pullbacks, but in the long run, this has not weakened its potential. On the contrary, recent signs show that DeFi is gradually adapting and standardizing, especially in financial powerhouses such as the United States, where regulators are becoming more tolerant of it rather than completely banning it.

In the next ten years, DeFi may have ten times or even more room for growth. The maturity of decentralized banking and on-chain financial services will eventually push DeFi to become a strong competitor to the mainstream financial system. For investors, now is the time to observe the legal progress of the market and select potential projects for layout. In particular, with the participation of more institutions in core sectors such as Ethereum staking, the DeFi track is ushering in a new source of power.

3. Depin: A sub-line narrative with stronger concepts than revenue

Depin (Decentralized Physical Infrastructure Networks) is another emerging track that has attracted much attention from institutions. Although the projects in this field currently have little revenue and many investors are skeptical about their true profitability, the hype potential of the Depin concept cannot be ignored. It focuses on decentralized physical infrastructure networks, which lays a theoretical foundation for the future decentralization of the Internet of Things and infrastructure.

IOTX is a representative project in this field, and institutions have invested heavily in it, indicating that the capital market is optimistic about this track. Although Depin's actual returns are still in their infancy, its future potential lies mainly in the prospects of the concept and the market's emotional hype, and investors can take advantage of this to seize short-term profit opportunities.

4. Bankruptcy sector: short-term speculation opportunities

Bankruptcy events have gradually become a hot topic in the market. Take FTX's bankruptcy reorganization as an example. The $16 billion compensation and potential restart plan attracted great attention from the market. As these cases gradually come to an end, the bankruptcy sector provides short-term speculation space. Although the investment value of such events is limited in the long run, for investors who are good at seizing market hot spots, bankruptcy events are undoubtedly short-term opportunities worth paying attention to.

5. MeMe sector: the end of emotional hype

The MeMe sector has always been a representative of market sentiment speculation, but its current sentiment cycle seems to be coming to an end. As more and more institutions enter the MeMe field, the purity of this sector has been impacted, and the original culture is in conflict with the current market situation. Although MeMe projects such as Doge still retain some community enthusiasm, the market resonance is weakening.

Nevertheless, for projects with strong cultural symbols like Doge, some investors still choose to continue holding out of emotion. For example, despite the greater risks in the future, some holders do not care about the possibility of its potential return to zero, but keep their positions out of personal preference and loyalty to the project.

In the next bull market, RWA will become the main narrative, with a more solid foundation and long-term growth potential. Depin, bankruptcy sector and social networking are secondary narratives, providing short-term speculative opportunities. As an investor, you need to find your own position in different narratives, grasping the opportunities of the long-term track, and also being good at seizing short-term emotional fluctuations to gain returns.

As the market development shows, the next bull market will be an era of multiple lines and rich narratives. How to choose your own investment path will determine whether you can get the most benefits in this round of market. $BTC $ETH $IOTX #ONDOUSDT #ETH🔥🔥🔥🔥 #BTC☀