On August 16, SuZhu wrote on X that the "fat application" theory has become a reality. Both Pumpfun and Hyperliquid have adopted high-efficiency, low-risk investment (VC) participation business models, and have dominated Solana and Arbitrum as a single application, controlling most of the value on the chain. SuZhu predicts that there will be more similar applications in the future, and a new wave of cryptocurrency adoption is coming.