@oswaldelino
A proto-altseason forms when BTC dominance stalls while liquidity rotates into high-beta sectors with improving fundamentals. Early signals include outperforming L2 tokens tied to growing sequencer revenues, Solana-ecosystem names benefiting from throughput-intensive apps, DePIN networks showing real-world demand, and RWA protocols converting off-chain yield into on-chain collateral. Perpetual DEX tokens can lead when volumes and fee rebates rise. AI-adjacent compute or inference markets rally as GPU supply decentralizes. Caution: pockets of exuberance—memecoins with thin liquidity—inflate quickly and unwind faster. Sustainable leaders usually exhibit rising on-chain revenue, credible emissions schedules, and diversified liquidity across CEX/DEX. Screen for catalysts: mainnet launches, fee-switch activations, governance reforms, and exchange listings. Breadth expansion beyond a handful of narratives would confirm a fuller altseason.