Tanaka(@Tanaka_L2):6 narratives I’m positioning around for this cycle [1] The monetary endgame starts playing out As sovereign debt, currency debasement and financial surveillance become harder to ignore. I expect capital to move toward 2 extremes: Transparent scarcity through $BTC Private money through $XMR, $ZEC and $RAILGUN BTC remains the institutional answer. XMR is private by default, while ZEC gives users programmable privacy and selective disclosure. [2] Social trading becomes the new casino People no longer want to trade alone. They want live positions, public conviction, leaderboards and instant speculation around every event. Prediction markets, perps and memecoin launchpads are all competing for the same attention. Aligned: @RobinhoodApp, @HyperliquidX, @Pumpfun, @ponsdotfamily, @longdotxyz, @jumperapp Tokens: $HYPE, $HOOD, $PUMP [3] USA perps happen in a major way This one still feels underpriced. Kalshi has already introduced regulated BTC perps, while Coinbase and Kraken are moving toward broader perpetual products. Coinbase is even pursuing single-stock perps. If US users finally get compliant 24/7 perps, derivatives volume enters a completely different phase. Aligned: Coinbase/Deribit, Kraken, @Polymarket, @Kalshi, @HyperliquidX Exposure: $COIN, $HYPE and potentially solana:7E17FfBVYfQLAdQiSMK3ESNwkiYGdZPTVvB5b5oypump [4] DATs make a comeback, but most will not The first DAT wave showed that simply raising capital and buying tokens is not a sustainable business. The next winners need liquid holdings, reliable financing and an operating engine that can survive mNAV compression. I’m mainly watching Strategy for BTC and BitMine for ETH. For smaller DATs, I need to see more than a treasury announcement. Aligned: $MSTR, $BMNR, $BTC, $ETH [5] A real AI coin emerges Most AI tokens still depend more on branding than actual demand. My strongest candidate remains $TAO because Bittensor is building an active market for machine intelligence rather than attaching AI to an unrelated token. I’m also watching the supporting infrastructure: Aligned: $TAO, solana:rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof, $AKT, $NEAR, $VIRTUAL But I expect one asset to capture most of the monetary premium. Right now, TAO has the clearest path. [6] RWAs outperform RWA is no longer just tokenized Treasuries. We now have stocks, private credit, gold, stablecoins and institutional settlement moving onchain. More importantly, these assets are becoming usable across lending, collateral and yield markets. Aligned tokens: $ONDO, $LINK, $CC, $MNT Projects I’m watching: @arc, @saturn_credit, @Theo_Network, @pendle_fi and @centrifuge Not every aligned token will win, but I think the eventual leaders are already somewhere on this list.

2026.10.10 14:57

6 narratives I’m positioning around for this cycle [1] The monetary endgame starts playing out As sovereign debt, currency debasement and financial surveillance become harder to ignore. I expect capital to move toward 2 extremes: Transparent scarcity through $BTC Private money through $XMR, $ZEC and $RAILGUN BTC remains the institutional answer. XMR is private by default, while ZEC gives users programmable privacy and selective disclosure. [2] Social trading becomes the new casino People no longer want to trade alone. They want live positions, public conviction, leaderboards and instant speculation around every event. Prediction markets, perps and memecoin launchpads are all competing for the same attention. Aligned: @RobinhoodApp, @HyperliquidX, @Pumpfun, @ponsdotfamily, @longdotxyz, @jumperapp Tokens: $HYPE, $HOOD, $PUMP [3] USA perps happen in a major way This one still feels underpriced. Kalshi has already introduced regulated BTC perps, while Coinbase and Kraken are moving toward broader perpetual products. Coinbase is even pursuing single-stock perps. If US users finally get compliant 24/7 perps, derivatives volume enters a completely different phase. Aligned: Coinbase/Deribit, Kraken, @Polymarket, @Kalshi, @HyperliquidX Exposure: $COIN, $HYPE and potentially solana:7E17FfBVYfQLAdQiSMK3ESNwkiYGdZPTVvB5b5oypump [4] DATs make a comeback, but most will not The first DAT wave showed that simply raising capital and buying tokens is not a sustainable business. The next winners need liquid holdings, reliable financing and an operating engine that can survive mNAV compression. I’m mainly watching Strategy for BTC and BitMine for ETH. For smaller DATs, I need to see more than a treasury announcement. Aligned: $MSTR, $BMNR, $BTC, $ETH [5] A real AI coin emerges Most AI tokens still depend more on branding than actual demand. My strongest candidate remains $TAO because Bittensor is building an active market for machine intelligence rather than attaching AI to an unrelated token. I’m also watching the supporting infrastructure: Aligned: $TAO, solana:rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof, $AKT, $NEAR, $VIRTUAL But I expect one asset to capture most of the monetary premium. Right now, TAO has the clearest path. [6] RWAs outperform RWA is no longer just tokenized Treasuries. We now have stocks, private credit, gold, stablecoins and institutional settlement moving onchain. More importantly, these assets are becoming usable across lending, collateral and yield markets. Aligned tokens: $ONDO, $LINK, $CC, $MNT Projects I’m watching: @arc, @saturn_credit, @Theo_Network, @pendle_fi and @centrifuge Not every aligned token will win, but I think the eventual leaders are already somewhere on this list.

Tanaka@Tanaka_L2

2026.08.01 05:33

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.

170

커뮤니티로 전달