ETH surges nearly 12%, is the altcoin season really here? My observations and thoughts. Ethereum has crossed $3400, reigniting market sentiment. From the perspective of exchange sentiment and capital flow, this wave is not just a technical rebound, but more like a return of confidence. But it also brings up a classic question: who will rotate next? This round of #ETH's rise seems more like a concentrated repair of the weak fluctuations over the past two months. The signals it releases are not just about the rise, but that the market structure may begin to switch. 1. ETH ecosystem infrastructure tokens: #LINK, #UNI, #MKR, #1INCH, #CRV These established projects have several advantages: First, they have stable market capitalization and ample liquidity, Second, they have a long-term trust relationship with mainstream capital, Third, the rise often represents the entry of "non-short-term speculative funds." #LINK and #UNI have always been among the favorite value coins for large on-chain holders. They may not give you a 10x return in the short term, but they are stable, logically clear, and suitable for focused attention when trends are clear. 2. Ethereum ecosystem meme coins: #DOGE, #MOODENG, #PEPE The core of meme coins is not just emotion, but the redistribution of attention and liquidity. With #ETH rising, Solana's meme has been overdrawn, and Base is already heating up, so market attention will likely flow back to meme projects on the ETH chain. Established projects like #DOGE and #PEPE still have cultural recognition advantages, while #MOODENG is a rare concept from Vitalik Buterin, possessing short-term attention value. Of course, setting reasonable profit-taking intervals is very important. 3. Base ecosystem transmission sector: #AERO, #BRETT, #TOSHI The Base ecosystem is becoming an amplifier of #ETH's popularity. When ETH rises steadily, the coins on Base often fluctuate faster and more aggressively. #AERO is a representative project in the DeFi sector, while #BRETT and #TOSHI are meme projects with strong community momentum. In terms of rhythm, Base is a typical high-volatility rotation hotspot, suitable for early positioning and quick in-and-out. 4. Targets worth mid-term observation: #WLD, #ENS #WLD was among the first to hit the AI concept wave but fell to the bottom due to frequent unlocks and market skepticism. However, its underlying background remains strong, and it may be lifted again by AI narratives in the future. #ENS is one of the core infrastructures in Ethereum's non-financial direction. Although it doesn't hype or market much, once such projects start, they often have more solid logic and milder fluctuations. My conclusion: this wave of #ETH's rise seems more like the beginning of a psychological game. In the current stage of the market, it’s not about who rises first, but who can grab the baton in the capital game and emotional rotation. On one hand, some prefer to allocate to high-stability assets like #ETH and #LINK; On the other hand, speculative funds are eyeing three directions: #Meme, #AI, and the #Base ecosystem; At the same time, the SEC's attitude towards ETFs in the second half of the year will also set a larger tone for the market. At this stage, the focus is not just on the projects you favor, but also on the directions that the market may reach a consensus on. This article is a personal understanding and sharing, not investment advice. The market has risks, please DYOR.