most alts are still just speculation at the end of the day unregulated and basically just completely unprofitable tech stocks.
no one cares about old narratives ( ex: zk vs optimistic rollups etc ) like there was last cycle bc it means nothing to most people anyway. macro is fatigued and liquidity is scarce & while stating the obvious when there’s less capital to deploy, it gets deployed into what people trust the most.
that’s why we see so much $BTC bids it has the most mindshare & biggest brand recognition… on chain will never be dead to me the feeling of going 1000x will never be replicated anywhere else & that’s what brings people back to our little casino.
alts will continue to underperform long term unless they reinvent themselves, attract some cool apps, or build a treasury at this point like eth is doing now ( let’s see how lubin’s play plays out )