In the cryptocurrency circle, there has always been a saying that one should invest in new coins instead of old ones, which was particularly evident in the last cycle.

At the end of 2020, the top twenty in the cryptocurrency market were still filled with projects like BCH, BSV, XLM, XMR, EOS, NEM, and many people now probably have no idea about them.
So in the last cycle, a large number of new projects quickly pushed these historical old projects out from the top of the market rankings.
But this wave has some different points:
On one hand, many new projects have emerged, and teams with good conceptual narratives will also take action.
However, many outstanding projects from the previous wave have blossomed for a second spring after going through a cycle of life and death, such as sol, bnb, avax, uni, near, ftm, gala, ygg, uni, stx, etc. They all seem to have grasped new conceptual narratives, and their teams are also actively striving. They are also very skilled in terms of market capitalization. Therefore, it is difficult to expect that the new projects in this cycle will replace the old projects as obviously as in the previous cycle, as many old projects are still quite capable.
In the previous cycle, DeFi was the main narrative, speculating on DeFi on ETH, then on DeFi on BSC, then on DeFi on MATIC, and later in the second half of the year, speculating on DeFi on SOL, AVAX, and FTM. At that time, the capital volume of this wave of DeFi was large, and the collective and group-driven shift was very obvious.
Currently, some people are optimistic about this and some about that in the persimmon market, which has led to a serious division of funds.
Each sector has its supporters, with various development models. The severe fragmentation of funds has resulted in the absence of a grand scene where a sector collectively continues to surge. Essentially, each sector shows its strengths for two to three weeks before settling down to gather momentum.