The crypto industry in 2026 will stand at a clear watershed, marked by the institutional entry of institutional capital and the end of the traditional four-year halving cycle. The underlying logic of industry development is undergoing a fundamental shift. Institutionalization, regulatory clarity, the fusion of AI and Crypto technologies, the transfer of value to the application layer, and stablecoins and RWA becoming core bridges constitute five irreversible consensuses, collectively driving the industry from "speculation and narrative-driven" to a structurally mature stage defined by "cash flow, utility, and compliance."