On June 3, 10x Research issued an article stating that although Bitcoin continues to hit record highs and attract a large amount of institutional funds, altcoins are still standing still, subject to continuous token unlocking and suppression from the lack of new narratives. The old script that was once driven by hype and leverage no longer works against the background of a 4.5% US bond yield. Even Ethereum has quietly entered the stage of "exchanging pledges for moderate gains." It doesn't take much capital to promote the surge in altcoins. A few large purchases can easily leverage the low-liquidity market. But the question is how to maintain the rally. This requires wider retail participation, and this is the real difficulty. In the past year, encrypted Twitter has repeatedly mentioned the idea that altcoins are about to usher in an explosion season, and the so-called "banana zone" has been continuously hyped. But so far, this narrative has never been fulfilled. Although market sentiment has been repeatedly stimulated, we have yet to see the emergence of key factors supporting such markets.