Author: Haotian
It is clear that the "certainty" spillover effect of the Trump family's introduction of massive off-chain capital to the crypto circle has not yet emerged, but the "uncertainty" factor that has been disrupting the liquidity of DEX and CEX has already caused a great deal of damage. How should we respond? Let me share a few observations:
1) Undoubtedly, AI Agent will still be the main narrative of 2025, because the integration of AI and Crypto is not just a short-term narrative frenzy, but a redemption and reconstruction of the old Crypto narrative by the new productivity of AI. Almost all the old narrative projects will be rejuvenated through AI.
The celebrity token effect brought by $TRUMP will be a frenzy of on-chain and off-chain capital for MEME-ized asset issuance, but it is likely to be a separation of the discourse power of the Crypto technology-driven narrative of "Americans buying new American coins".
This may not be good news for old projects that have accumulated a large amount of Holder capital in the short term, as evidenced by the recent bloodletting pressure test. Therefore, the crypto community should quickly shift its attention to the AI Agent track, which is the right choice.
2) The AI Agent track has been almost bloodbath in the past week, with only a few mainstream blue-chip projects such as $AIXBT @aixbt_agent, $arc, and #Griffain having strong support, while most small and medium-cap niche projects have been devastated.
In the short term, this will dampen the market's enthusiasm for participating in the AI Agent narrative and also affect the exploration of sub-sectors such as framework standards, DeFai, MetAiverse, GameFai, Chainization, and DePinfai.
But it is actually a good thing, because AI Agent has basically replicated the old narratives, and even many old narrative projects have become new topic hotspots by changing their clothes, which will obviously lead to short-term chaos in the market and fail to truly demonstrate the innovative driving value of AI Agent.
The Trump family's MEME issuance seems to have cooled things down, but the projects that can survive this ordeal and be empowered to land, and eventually revive after the AI Agent market recovery.
It may seem like an indiscriminate bloodletting attack, but it is actually a necessary action to wash away and recapture value.
Don't always ask what to copy? Follow the logic of the sub-track in my previous article and compare and select some projects that fit your investment logic. The projects will evolve a lot, but the narrative logic is absolutely correct.
3) The Trump family's bloodsucking attack has directly exposed the easy manipulability of the crypto circle's existing liquidity:
1. There is a natural barrier between on-chain DEX and off-chain CEX liquidity, and CEX withdrawal restrictions will put all on-chain assets at risk;
2. The on-chain ecosystem lacks a sufficient diversity of stablecoins, financial products and other liquidity reservoirs, which will inevitably lead to FOMO-style selling pressure on other on-chain tokens when phenomenal opportunities appear on-chain, and this chain reaction of selling pressure not only disrupts the market pricing mechanism, but also poses a huge challenge to those projects that are committed to building long-term value and cultivating loyal Holders;
3. Even within the on-chain ecosystem, there is a liquidity fragmentation between the EVM ecosystem and the Solana ecosystem. How to use Solana on-chain assets to buy Base ecosystem tokens, how to quickly aggregate cross-chain liquidity to capture cross-chain opportunities has become a market imperative, which is a "product-driven" benefit for the @UseUniversalX advocated all-chain, no-need-to-bridge on-chain trading center. (If you find the concept of "chain abstraction" too abstract, go experience the product with the pile of questions you've accumulated from surfing the chain.)
In summary, in the big picture, the Trump family can certainly bring a huge influx of users and capital to the circle, but with more water in the pool, there are also more fish, and whether this will benefit every old Holder in the short term is highly "uncertain".
Under this premise, I still suggest locking in the high-attention "AI Agent" narrative in the crypto circle as the main line. Don't forget that outsiders not only understand the weight of the presidential coin, but also have a better understanding of #AI compared to DeFi, NFT, and the metaverse.
