Is it altcoin's turn now? Where to pay attention now | Seo Dong-ju, Kim Dong-hwan, Kim Nam-ung, Four Pillars CEO

Summary

Kim Nam-ung, CEO of Four Pillars, explains why bitcoin recently rallied and what it means for altcoins. He points to U.S. regulatory easing, Treasury long-end buyback, and miners using AI revenue as key drivers. He also outlines specific crypto sector views, including bullish platform plays such as Hyperliquid, Ethena, Pump.fun, and RWA platforms, while warning against individual memecoins.

• Bitcoin's rally is attributed to U.S. crypto regulatory easing, Treasury long-end buyback signals, and AI-related miner revenue reducing forced selling.
• Long-end Treasury buyback is seen making U.S. long-term bonds less attractive while supporting gold and bitcoin.
• Jackson Hole and Fed Chair Waller are viewed as the key short-term catalysts for crypto momentum.
• Crypto investment is shifting from layer-1 narratives toward applications with real revenue and user activity.
• Hyperliquid is highlighted for revenue-linked token buybacks and burns.
• Pump.fun and FOMO are framed as picks-and-shovels platforms on memecoin volume.
• Ondo and Centrifuge are favored as RWA platform plays over individual RWA assets.
• Individual memecoins are considered too risky for ordinary investors.