A year ago, crypto had one narrative: ETF flows.
Now there are at least five:
1) Debasement >> BTC
2) Privacy >> ZEC
3) Tokenization >> ETH, SOL, LINK, HOOD, CRCL (and others)
4) Revenue >> HYPE, PUMP, UNI (and others).
5) Attention >> HOOD, PUMP, PONS
The breadth is bullish.