Recently, I took a look at a certain institution’s portfolio records and noticed something interesting.

In this cycle, almost all the coins they heavily invested in have taken off—from last year’s first half when BTC, ETH, SOL, BCH, LPT (mainstream and AI concept coins) led the rally, to the second half when XRP, XLM, and LTC picked up the momentum, then last month’s explosive performance from privacy coins like ZEN and ZEC, and now in recent days BAT has started to strengthen steadily. You can question their coin-picking logic, but the data doesn’t lie: these moves have outperformed the vast majority of players in the market.

What’s even more noteworthy is that they’re still holding three “unrealized cards”—ETC, MANA, and FIL. FIL in particular has seen increased accumulation lately, with fairly frequent activity.

Personally, I’ve allocated some ETC, since they’re still holding $165 million worth of tokens untouched. Plus, this coin has a unique trait: in every bull market, it’s the “final act,” only making its big move toward the end. For now, I’m treating it like a lottery ticket, to see if it’ll replicate the performance of those previous coins. The logic is simple—since so many coins have already been validated, these remaining ones are either waiting for the right time, or they’re really done for. It’s all about probability and patience.