The reality of this cycle, whether we like it or not, is that there is not a single alt Layer-1 blockchain currently in the Top 100 rank that passed it's previous 2021 ATH that did not come as a result from an increase in liquidity through trading or DeFi activity.

The only ones that passed their previous 2021 ATH were:

• SOL, STACKS (memecoins & ordinals)
• BNB, TRX (exchanges, but also sus)
• INJ (DeFi & supply burn)

Not counting TON & XRP since that was stunted for different reasons (SEC).

The most surprising one of all is DOGE which is literally mentioned every day by the most prominent gov't on the planet.