The current Crypto Assets market is experiencing a pump trend, but unlike before, this bull run presents unique characteristics. Compared to past bull runs driven by retail investors, this round of market activity is mainly driven by institutional funds, a phenomenon that deserves our in-depth exploration.

In this context, investment strategies also need to be adjusted accordingly. Compared to small altcoins or outdated meme coins, large Crypto Assets projects are more likely to become the focus of investment. The logic behind this is simple: institutional investors, especially fund managers, need to consider multiple factors when choosing investment targets, including liquidity, market recognition, and how to explain their investment decisions to investors.

Large market cap projects, especially well-known ones based in the United States, often have better liquidity and higher market recognition. This makes it easier for institutional investors to conduct large transactions, while also facilitating the justification of their investment decisions in investment reports. In contrast, small altcoins may face issues such as insufficient liquidity and low market recognition, which do not meet the needs of institutional investment.

It is worth noting that there has not been a large-scale influx of new investors into the market at present. This means that the market is still in a relatively rational state, with investment decisions being more based on the actual value and development prospects of projects, rather than purely on speculative psychology.

However, this does not mean that small projects are completely without opportunity. As the bull run progresses, if new retail investors begin to enter the market on a large scale, there may be a broader pump in the market, at which point some quality small projects may also welcome development opportunities. But at the current stage, focusing on large-cap projects may be a more robust strategy.

For retail investors, in this market environment, following the footsteps of institutional investors and focusing on large-cap, highly liquid projects may be a relatively wise choice. Of course, one should conduct thorough research and risk assessment before making any investment decisions.