GM,
I have lost enough money on good projects to understand one thing:
A strong product can't save a token that continuously works against its holders.
In previous cycles, I focused heavily on narratives, founders, technology and ecosystem growth. In 2026, I pay much more attention to where the money actually flows.
If a protocol generates revenue, but the token receives nothing while insiders keep unlocking supply, I do not consider that real alignment.
My checklist now focuses on four areas:
– Value capture: fees, buybacks, burns or sustainable staking rewards
– Supply: healthy circulating supply and predictable unlocks
– Utility: demand created by actual usage, not temporary incentives
– Alignment: protocol growth must create some benefit for token holders
This is why I am more comfortable owning assets such as $BTC, $ETH, $AAVE, $PENDLE, $TAO and $VIRTUAL than holding random tokens with attractive narratives but no economic foundation.
$VIRTUAL |
@virtuals_io is one of my higher-conviction AI positions because the token sits at the center of a growing agent economy. Agents can launch, transact and build their own onchain businesses across the ecosystem.
I still want to see stronger and more direct value capture as the network matures, but the combination of real product activity, ecosystem expansion and token utility makes it worth holding on my list.
$HNT is also worth watching because rewards are tied to network contribution, while $ONDO remains an interesting exception for me due to its RWA positioning and institutional reach.
On the other side, I treat many L2, gaming and AI tokens as tactical trades rather than long-term investments.
Some of them have good products, but the token itself often functions like leveraged market beta:
– Strong upside when liquidity enters
– No meaningful floor when liquidity leaves
– Constant pressure from emissions and unlocks
Projects such as $ARB, $SUI, $TON, $AVAX, $LINK and $UNI may still outperform during the right rotation. I simply would not assume ecosystem growth automatically translates into tokenholder returns.
My portfolio reflects that view.
I keep the core in $BTC and $ETH, then allocate smaller positions to sectors where I see both real adoption and better alignment, including AI infrastructure through $TAO and $VIRTUAL, RWAs and established DeFi.
I have become less interested in finding the next 100x token and more interested in avoiding assets designed to slowly dilute me.
Good tokenomics cannot guarantee success.
But bad tokenomics can turn even the strongest narrative into exit liquidity.