The current market cycle is teaching retail investors a hard lesson in discrimination. Most cryptocurrencies lack any real fundamentals or revenue-generating mechanics—they're pure speculation plays. So what actually deserves a fair valuation in this landscape?

The answer isn't complicated: look for projects with sustainable cash flows and tangible use cases. Strip away the hype and trading volume. If a token can't articulate how it generates value beyond exchange activity, it doesn't belong in a serious portfolio. The longevity winners are those solving real problems in the Web3 space—whether that's infrastructure, DeFi protocols with actual yield mechanisms, or blockchain applications with genuine adoption curves.

Retail is finally learning what institutional money figured out years ago. Fair value only exists where there's function.