Written by: Haotian
In the harsh market environment where most people believe that "VC coins are dead," "the technology narrative has disappeared," "listing certainty has plummeted," and "all trading is MEME," I actually think the time has come to buy the dip in technology projects:
1) The overall bearish expectation for the altcoin season has indirectly lowered project valuations.
Some excellent projects and poor projects go through the same stages of airdrop → listing and distributing tokens → market making and consolidation. Therefore, under the curse that many poor projects peak at token issuance, quality projects are inevitably misjudged due to market sentiment. This is our opportunity to accumulate positions in quality projects when prices are low. For example, what would happen to today's $ZKC and $PROVE if they were launched in the same TGE environment as $STRK?
2) There is a natural mismatch between the build cycle of technology projects and their market breakout cycle.
We are currently in a silent period of technological accumulation: ZK, TEE, AI infra, Intent-based trading, high-performance chains, etc. Many tokens have been issued, all becoming "technical debt." However, for this kind of infrastructure to be recognized, we need to wait for an explosion at the application layer. When the market sees another application-layer boom like DeFi or NFT (AI Agent?), these projects will truly have their day in the sun.
3) The holding experience of technology projects and MEME coins is worlds apart.
In a bear market, we can use technical aesthetics to select a technology project, hold it long-term, and enjoy high-multiple growth. While MEME coins may have stronger explosive power, they require intense PVP competition, 24/7 monitoring, and most people cannot bear the huge opportunity cost and psychological pressure. In a passive environment where you can't control the value fluctuations of your holdings, actively choosing a comfortable "holding experience" is crucial.
4) The market is undergoing a structural purge of "technical debt" narratives.
Projects that purely create concepts and chase hot trends, but lack significant market share and ecological discourse power in key tracks, will be completely eliminated. On the contrary, those that define technical standards, guide industry technological progress, and have a two-sided market of upstream and downstream supply, are definitely waiting for a second bloom.
5) The era of great integration with TradFi has opened up new value anchors.
The configuration and procurement needs of traditional Wall Street structures will provide new value anchors for technology projects. Projects that can provide upstream infra for new TradFi capital and users have great prospects. At the same time, projects that have found a PMF path and are willing to buy back tokens, as well as those DATs that can continuously bring in incremental funds, will have greater opportunities. The industry's internal competition has raised the cognitive threshold, but it has also defined new valuation and selection methodologies.
