There's a huge rojak(asian dish) or spaghetti of players going round now meaning different arenas. It is important to keep clear headed. Its in early LA gta, where you have all kinds of different gangs playing their own game. From yrs of exp, I found that last forgotten ones or the completely new ones tend to have more r.r vs those more recent narratives. ( typical be 3 steps later or 1 step early than 2 steps late phenomenon) In the old days we would monitor tvl and equate it to mcap ratio obv a meme but what is real is big OG whales pooling in hundreds of millions back to earn APR % from defi protocols and that is real af and they just started like a week ago .