Traders Turn Selective as Altseason Nears, Capital Favors Revenue-Generating Protocols

The selectivity itself is the story: capital rotating toward protocols with actual income suggests the market is pricing fundamentals rather than pure narrative momentum. That favors projects with visible revenue over the long tail of speculative tokens, a meaningful shift in how a cycle's early phase is being traded. Whether this discipline holds as altseason broadens — or gives way to the usual indiscriminate bid — is the open question worth watching.