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In the last $BTC bull market, VC coins created a reverse altcoin season. High private placement valuations, low circulating supply upon listing, using BTC's rise as a cover to dump, dump, dump! Many of them recovered chips at the bottom and may use the bull market for a second round of selling (or possibly to prove their value). 1. SUI: Public chain, mainnet launched in May 2023, Mysten Labs, with participation from a16z and Jump. 2. SEI: Public chain, mainnet launched in August 2023, often confused with SUI. 3. TIA: DeFi modular product, launched in October 2023, with Bain and Polychain involved. 4. WLD: AI sector, star-level nationwide iris airdrop, launched in July 2023, invested by a16z. 5. APT: Korean public chain, has had a good rally history, has been sluggish for a long time, Korean fans are expected to return. 6. EIGEN: ETH Restaking leader, back then Sun Ge entered with massive ETH to farm airdrops. 7. ENA: The project with the highest single-address airdrop amount back then, initially quite strategic; with rising funding rates in the bull market, logically this helps generate demand for ENA. 8. JUP: Equivalent to Uniswap on SOL, JLP forms an ETF product that can earn the entire DEX revenue set, quite innovative.