Consumer applications become the new focus of the crypto market

In recent years, the focus of the encryption industry has shifted from infrastructure construction to consumer-oriented applications. As core technologies mature, the market is beginning to pay attention to how to convey the value of blockchain to ordinary users through user-friendly products.

In this bull market, consumer application projects with actual revenue and product market fit have performed exceptionally well. For example, the perpetual contract trading platform Hyperliquid has an annual revenue of approximately 900 million dollars, the meme coin issuance platform Pump.fun has around 500 million dollars, and the prediction market Polymarket has an annual trading volume of 12 billion dollars. In contrast, some infrastructure projects with high funding but lacking users have seen their valuations plummet.

The main consumer tracks that have verified product market fit include:

• Trading / Perpetual Contract
• Token Issuance Platform
• Information Finance and Prediction Market

Emerging tracks with promising prospects in the future include:

• One-stop encryption financial super application
• Blockchain-based monetization entertainment/social platform

The AI and gaming fields have yet to see breakthrough products, but the future is promising.

As the industry enters a mature phase, activity is concentrating on a few consumer-friendly public chains, such as Solana and Hyperliquid. Investment institutions should pay attention to the leading applications and their core infrastructure within these ecosystems.

When assessing consumer applications, more consideration should be given to:

• Distribution capability and virus transmission
• User Experience and Brand Value
• Real income and expansion path

In the next 5 years, consumer-grade applications that can transform the value of blockchain into everyday experiences for ordinary users are likely to bring exceptional returns.