The bearish sentiment around altcoins is surging, and I agree with most of the viewpoints: For example, most altcoins are garbage, and 1011 has had a huge impact on many altcoins (most coins probably won’t recover). But, from another perspective, many altcoins haven’t been disproven: 1️⃣ **Public Chains** The casino logic of leading public chains (constantly introducing new asset issuance models), future financial assets being tokenized, etc.; 2️⃣ **DeFi** As the infrastructure supporting the entire on-chain ecosystem. Whether it’s DEX, perpetuals, lending/launchpads, etc., since 2020, there’s been a very clear user base and utility. 3️⃣ **Meme Coins** As one of the few native assets in crypto, community-driven meme coins, despite the current issue of over-issuance and the Christmas tree-like charts, still remain the best assets for carrying emotions and trends once they’re listed on major exchanges and fully circulating. 4️⃣ **Some emerging narratives for the future** Including RWA (Real World Assets), stablecoin payments, AI combined with crypto, etc. These new narratives are still in the exploration phase, and it’s hard to say they’ve been disproven yet. If a project doesn’t fall into the above categories and has a team but no funding, avoid it. If it belongs to the above categories but has already failed in competition and lost its user base, avoid it. (This only applies to speculative coins—look at game theory data and guess the moves of the whales.) If it belongs to the above categories, has a clear user base and use case, has won in competition, and is even still growing, I don’t see how it’s been disproven. Sentiment always swings from one extreme to another. Shouting about decentralizing everything and swallowing the financial world is certainly delusional; shouting that all altcoins in crypto have been disproven is also unrealistic.