Ever feel like the crypto market's got its own weird rhythm? One minute, everyone's chasing the next hot on-chain project; the next, the spotlight swings to established alts that seemed dormant. That's exactly the vibe in Kyle's recent thread on X, where he drops some sharp insights on this bull cycle's unfolding mania.

Kyle, a thesis-driven investor at Defiance Capital, kicks things off by quoting his own earlier post: the frenzy isn't exploding on-chain like last time. Remember the 2021 cycle? On-chain volumes flatlined before ripping higher. This round? It's the big alts that went quiet first, only to potentially surge next. "Time is a flat circle," he quips, nodding to that eerie market repetition.

To visualize it, check out this DefiLlama chart Kyle shared—it's a stark reminder of those spike-and-dip patterns we've seen before:

Diving deeper in the follow-up, Kyle unpacks how the hierarchy's shifting: BTC leads, but now it's flowing into ETH, then SOL in a quirky twist thanks to the rise of DATs—Digital Asset Treasuries. These are basically companies and funds stacking crypto on their balance sheets, like Multicoin Capital pushing SOL as the ultimate treasury play for its staking yields and speed that BTC and ETH can't match.

As more of these treasuries pop up, even "trashier" assets are getting the nod, broadening the flow. But Kyle's not scattering shots everywhere. He's laser-focused on two buckets for the long haul:

1. DAT assets: The heavy hitters like ETH, SOL, and WLD that institutions are piling into. These aren't just blue-chips; they're the bridges between TradFi and crypto, with real utility and yield potential.

2. Fundamentally strong alts: Here's where the meme magic shines—tokens like HYPE (the Solana sensation blending hype cycles with solid community vibes), PUMP (the launchpad that's minted meme legends), PENGU (adorable penguin powering Solana's fun side), and MNT (Mantle's layer-2 efficiency play). These aren't pure gambles; they've got narratives, liquidity, and that sticky community factor that turns volatility into virality.

Why does this matter for us meme chasers at Meme Insider? In a cycle where on-chain noise is muted, these strong alts—especially the meme-flavored ones—could catch the spillover from DAT flows. HYPE's got that unbuyable-by-TradFi edge, as one reply notes, keeping it pure and explosive. PUMP? It's the ecosystem builder, fueling the next batch of moonshots.

If you're knee-deep in blockchain, this thread's a wake-up: don't sleep on the alt revival. Track these buckets, stack accordingly, and remember—markets love their circles. What's your play in this round? Drop thoughts below.

Not financial advice—always DYOR.