In 2026, the crypto market is becoming increasingly fragmented, with RWA, Meme, and privacy coins forming two major investment camps. Institutions are betting on the RWA tokenization revolution, which, despite a trillion-dollar market outlook, faces risks of low liquidity and regulatory delays; Meme coins are warming up but remain a game of existing holdings, with hidden risks of unlocking selling pressure; privacy coins have limited rebound potential, caught in a dilemma between compliance and ideology. The article points out that a single track is unlikely to generate alpha, and opportunities lie in the intersection of these three areas through innovative cross-sector approaches. The optimal strategy for retail investors may be to hold BTC/ETH and wait for signals, avoiding the risks of chasing high prices and being unable to hold on.