When smart funds stop telling "story": Where are they looking?

You may not have noticed that Avalanche's C-chain has been hot again recently.

While most ecological TVLs are slowly falling and market topics are crowded with AI, Restaking and Meme, the C-chain quietly rebounds against the trend: active addresses have risen for three consecutive weeks, mainstream protocol TVL has risen again, and even the "forgotten" old project BENQI has returned strongly.

At the same time, Avalanche launched Visa virtual cards, Core wallets support Gas-free operation, and on-chain infrastructure continues to be upgraded -these signs all hint at a fact:

The value of infrastructure is being repriced.

And smart funds have already quietly gotten on the bus. They don’t tell stories or chase the trend, but they always walk ahead of others.

What is "smart capital"? Not the richest, but the longest life

Many people think that smart funds are "giant whales", but in reality, "smart" ≠ has the largest wallet, but the highest long-term winning rate .

Their three magic weapons:

• Be calm and not be greedy or fearful : not radical in a bull market, and not pessimistic in a bear market. Only those who can travel through three rounds of bull and bear are called living.

• Risk control first, profit is low : don’t look at how explosive the APY is, just care about the protocol code review and have not been reviewed.

• The chain is transparent and the liquidity is controllable : I am not afraid of locking positions, I am afraid of not telling you if I lock them; I am not afraid of falling, I am afraid of no place to check the data.

These people are more like the fund manager + hacker hybrid in Web3 : they understand financial modeling, and also look at smart contract codes. I don’t talk much, but once I take action, I often become a weather vane for the ecology. Like the recent surge in liquidity in BENQI, it is one of the choices these "quiet smart people" make on the chain.

The "hazard-averse posture" of smart funds: if you are not crazy, you are

"Buddhist"

In the second half of 2024, when the market was fluctuating and the sentiment was sluggish, Clever Fund began to deploy stable income agreements.

For example, the old project in the Avalanche ecosystem, BENQI: TVL soared to US$520 million , of which Liquid Staking's $sAVAX reached nearly 10 million AVAX , a record high almost every day.

What they chose was not the "coins that could increase tenfold", but:

• APR stable : currently about 5.2%

• Assets can be reused : sAVAX can participate in lending and pledge without affecting liquidity

• Clear mechanism and transparent operation : no figurative locking terms

• Interface friendly : Non-technical users can easily get started

You may not see it, but the data on the chain won't lie: There are addresses that convert AVAX to sAVAX for several consecutive days, and then use it for lending cycle operations, totaling more than one million US dollars. This combination of "revenue-mortgage-compound interest" is a typical "fear of death but not idle" strategy for smart funds.

Not a abandoned son, but a trump card

Many people mistakenly believe that Avalanche's push for Subnet multi-chain means that the main chain C-Chain will be marginalized. But the reality is that the C-chain is becoming the core of infrastructure construction.

Take a look at these "silent big moves":

• Avalanche Visa virtual card is online : USDT / USDC / AVAX can be consumed directly, and even Alipay can be tied.

• Core wallet supports Gas-free operation : the threshold for new user experience is greatly reduced.

• Upgrade of on-chain data service : Developers and investors can query contract and asset data with one click.

The significance behind this is: C-chain is not about showing off skills, but about catching real users and assets inflows.

For smart funds, this is exactly the core logic of their bet on Avalanche: when everyone tells stories, only infrastructure is the armor that can truly travel through cycles. BENQI, as part of its early infrastructure, is gradually being re-evaluated and re-priced.

Stable returns are not just a transition plan to "wait for bull market"

By enlarging the perspective, you will find that smart funds are not investing in a specific project, but investing in a long-term logic:

Stable returns are the moat during the market panic period.

Whether it is BENQI's $sAVAX, Lido's $stETH, or Frax's sfrxETH, they are all finding new release paths for "non-transactional assets".

You will also find that they are constantly planning:

• Frax focuses on stable pools such as sDAI to improve asset utilization;

• Pendle's structured income products continue to be popular , and a variety of APR curve combinations have triggered innovation in arbitrage strategies;

• Maker launches SubDAO to disperse governance pressure and enhance long-term stability ;

• EigenLayer uses "Restaking" to leverage new revenue layers to attract TVL to reunite.

These choices seem conservative, but they are the foundation of the next bull market - fine, transparent and sustainable.

Don't ask the story, ask the underlying logic

If you are still asking "Which coin can increase by 10 times", smart funds will tell you:

“What increases 10 times is emotion, not value.”

What they really care about is:

• Can the risk exposure of this agreement be controlled?

• Is the source of income real and sustainable?

• Is on-chain liquidity real? Is TVL's data solid?

• Is the team iterating continuously? Is the community active and has feedback?

When the answers to these questions are YES, they will press the familiar "Confirm" button.

The starting point of the next bull market is not a certain god chain or a certain god narrative, but these quiet but firm "smart choices" .

Want to be a smart person, start with these four things

If you see this, congratulations, you are already "smarter" than 90% of the market. I'll give you another checklist so that you can avoid pitfalls:

1. Check audit and open source : Is there a third-party audit of the project? Is the contract open source?

2. Check the data on the chain : TVL, active wallet, asset structure, can it be verified on the chain?

3. Analyze asset availability : Can you borrow or use it in combination after staking?

4. Assessing team and community vitality : Is there any continuous product updates and conversations with the community?

A bull market is not far away, but learn to be smart first.

The wind is expected, and the foundation must be stable.

Don't pursue popularity and be a smart person.