According to @adriannewman21, among altcoin projects beyond BTC and ETH, tokens whose treasuries are backed by crypto-native investors have outperformed, while TradFi allocations have clustered in highly manipulated names that have been money-losing, source: @adriannewman21. For trading, prioritize alts with transparent on-chain treasuries, identifiable crypto-native holder bases, and lower signs of manipulation, and de-weight tokens with heavy TradFi exposure and abnormal volume patterns, source: @adriannewman21.