Author: Haotian
It is undoubtedly 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 sucking the existing capital in the crypto circle and disturbing the liquidity of DEX and CEX has already caused great damage. How should we deal with it? Let's discuss a few observations:
1) There is no doubt that AI Agent will still be the main narrative of 2025, because the integration of AI and Crypto is not just a short-term narrative boom, 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 the recent bloodsucking pressure test has best proven. Therefore, the crypto circle people should take back the control of the crypto circle's destiny and quickly shift their attention to the AI Agent track, which is the most correct choice.
2) The AI Agent track has been almost bloodbath in the past week, except for a few mainstream blue-chip projects like $AIXBT@aixbt_agent, $arc, and #Griffain, which have strong support, most of the small and medium-sized sub-sector projects have suffered devastating blows.
In the short term, this will dampen the market's enthusiasm for participating in the AI Agent narrative, and will also affect the exploration enthusiasm of sub-sectors such as framework standards, DeFai, MetAiverse, GameFai, chain-ization, 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 coats, which will obviously lead to short-term chaos in the market and cannot 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 great disaster and continue to empower landing, and will usher in a second spring after the recovery of the AI Agent market.
It seems to be an indiscriminate bloodsucking attack, but it is actually a necessary action to wash away the value and recapture it.
Don't always ask what to copy the bottom? Follow the sub-sector logic in my previous article, compare and screen out some projects that fit your investment logic, as the projects will iterate a lot, but the narrative logic is absolutely correct.
3) The Trump family's bloodsucking attack has directly exposed the problem of the manipulability of the existing liquidity in the crypto circle:
1. There is a natural gap in liquidity between on-chain DEX and off-chain CEX, and the CEX's suspension of withdrawal will put all on-chain assets in jeopardy;
2. The on-chain ecosystem lacks a sufficient diversity of stablecoins, financial products and other liquidity reservoirs, which leads to the inevitable FOMO-style selling pressure on other on-chain tokens when a phenomenal opportunity appears 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 chain assets to buy Base ecosystem tokens, how to quickly aggregate the liquidity across the chain to capture the opportunities across the chain has become a market imperative, which is a "product-driven" benefit for the new paradigm of on-chain trading center advocated by @UseUniversalX. (If you think the concept of "chain abstraction" is too abstract, go experience the product with the pile of questions accumulated from surfing on the chain, and you will understand.)
In summary, in the big picture, the Trump family can certainly bring a huge influx of users and capital into the circle, but with more water in the pool, there are also more fish, and whether it can benefit every old Holder in the short term is highly "uncertain".
Under this premise, it is still recommended to lock 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.
