During the current downturn in the encryption market, many investors are looking for potential coins for the next bull run. Let's analyze six cryptocurrency projects worth paying attention to that may play an important role in the market recovery in the future.

1. Avalanche (AVAX): As a high-speed blockchain platform, AVAX supports multiple subnets and is very suitable for enterprise-level applications. Its technical advantages and continuously recovering ecosystem give it the potential to compete with Ethereum and Solana in the future. However, it should be noted that its popularity in a bull run may not be as high as Solana.

2. Injective Protocol (INJ): This is an innovative project that combines decentralized finance (DeFi) and artificial intelligence (AI). As one of the most active projects in the Cosmos ecosystem, INJ has strong community support and an active development team. However, investors should be wary of the risk of corrections following excessive hype.

3. Arbitrum (ARB): As the largest second-layer scaling solution on Ethereum, ARB ranks first in total locked value (TVL), number of developers, and number of projects. As second-layer solutions become mainstream, ARB's position may be further solidified. However, the current lack of a clear value capture mechanism poses short-term risks.

4. Celestia (TIA): This is an innovative modular blockchain project focused on the data availability layer. Its cutting-edge technology has been adopted by several emerging public chains, showing great potential. However, its current market value may already contain some bubble, and investors should proceed with caution.

5. Near Protocol (NEAR): This project actively promotes the integration of AI and blockchain, and is known for its excellent technology and user-friendly experience. As market sentiment may improve after 2024, NEAR's positioning as a "lightweight Ethereum" may regain attention. However, it also faces competitive pressure from second-layer solutions.

6. Thorchain (RUNE): As a cross-chain liquidity protocol that truly supports direct exchanges between native chains, RUNE addresses a significant industry pain point. During a bull run, such solutions may become highly sought after. However, its complex technology also brings higher security risks.

In addition to these emerging projects, the portfolio should still include core blue-chip currencies such as Bitcoin ( BTC ) and Ethereum ( ETH ), which typically account for 30-50% of the total investment. Emerging leading currencies such as Solana ( SOL ) and Avalanche ( AVAX ) can account for 20-30%, while small-cap potential currencies such as INJ, TIA, ARB, NEAR, RUNE, etc. can account for 20-40%.

Remember, the cryptocurrency market carries a high degree of uncertainty and risk, so be sure to exercise caution when investing, and conduct thorough research and risk management.