Recently, interesting divergences are happening in the altcoin space. Polygon has gained 15% driven by the payment infrastructure narrative, and Chiliz has risen 13% to 24% on the sports DeFi concept. But for coins without new stories, they are basically stagnating or even pulling back.

This phenomenon is quite normal in the mid-stage of a bull market. Funds are no longer blindly pouring in; they are becoming more selective. Investors now focus on projects that actually have progress and real development, rather than buying every coin. This indicates that the market is gradually becoming more rational, which is actually a good sign.

However, narrative-driven hype is a double-edged sword. Concept speculation can easily detach from fundamentals, and once the hype cools down, prices tend to fall quickly. Therefore, the key to participating in such coins is timing—enter when the story is just starting to ferment, and exit decisively when the hype reaches its peak. Never chase high prices; otherwise, you'll become the bagholder.

At this stage, the most important thing is to carefully study the real progress of each project, rather than jumping in just because prices are rising. Only in this way can you profit from market divergence instead of being hurt by it.