Understanding why attention outperforms fundamentals in crypto

In the current crypto market, attention is shifting towards meme coins and quick profits as opposed to fundamental projects with cash flows. The lack of movement in fundamentally strong projects is due to the rotation of crypto native individuals rather than retail investors. Conservative buyers are now mostly allocated to ETFs, while risk-takers are moving towards meme coins that produce quick returns, despite the inevitable downfall. The focus on meme coins leaves the middle section of projects overlooked until retail investors return or the failure of meme coins prompts a shift back towards fundamentally sound projects. The speaker shares their experience of underperforming by investing in altcoins based on perceived fundamental value, eventually consolidating their portfolio into Bitcoin due to its discounted value. The importance of following market flows driven by ETF investments, cultural excitement, and tech themes is emphasized, with short-term profits achievable by aligning with these narratives. The speaker acknowledges the future potential of proper use cases driving the crypto market's growth, advising against focusing on traditional finance valuations in the meantime and adopting a more flow-centric approach to navigate the current market dynamics.