Bitwise CIO: The Next Crypto Bull Run Will Revolve Around Stablecoins, Tokenization, and Institutional DeFi
2026-07-26 21:37
Odaily Odaily reports that Bitwise Chief Investment Officer Matt Hougan stated that Bitcoin's strengthening momentum, ETF demand, and institutional adoption may indicate early signs of a new crypto bull run, driven by tokenization, stablecoins, and blockchain-based financial markets.
Hougan noted that since July 1st, Bitcoin has risen by 9%, while the Nasdaq 100 index has fallen by 6%. He stated that market sentiment and ETF flows have improved, but the market has not yet confirmed a bottom.
Hougan believes the next crypto cycle will focus on the integration of blockchain technology with traditional finance, including stablecoins, tokenization, 24/7 trading, instant settlement, and the expansion of institutional DeFi to a trillion-dollar scale.
Hougan views Hyperliquid and Robinhood as two distinct paths for on-chain finance. He stated that nearly half of Hyperliquid's trading volume comes from traditional assets such as crude oil, silver, and the S&P 500. Meanwhile, Robinhood launched Robinhood Chain on July 1st to support tokenized stocks and DeFi services.
Hougan noted that since July 1st, Bitcoin has risen by 9%, while the Nasdaq 100 index has fallen by 6%. He stated that market sentiment and ETF flows have improved, but the market has not yet confirmed a bottom.
Hougan believes the next crypto cycle will focus on the integration of blockchain technology with traditional finance, including stablecoins, tokenization, 24/7 trading, instant settlement, and the expansion of institutional DeFi to a trillion-dollar scale.
Hougan views Hyperliquid and Robinhood as two distinct paths for on-chain finance. He stated that nearly half of Hyperliquid's trading volume comes from traditional assets such as crude oil, silver, and the S&P 500. Meanwhile, Robinhood launched Robinhood Chain on July 1st to support tokenized stocks and DeFi services.
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