While investors await the end of the bear market in Bitcoin and altcoins that has continued since October 2025, Bitwise Chief Investment Officer Matt Hougan stated that a new era is beginning in the cryptocurrency market and that some projects may stand out during this period.
In his recently published article titled "The Crypto Revenue Revolution," Matt Hougan stated that the cryptocurrency market is increasingly becoming a structure focused on revenue generation.
At present, according to the Bitwise CIO, the cryptocurrency market will grow around profitable projects.
According to the Bitwise Chief Investment Officer, in the near future, the value of cryptocurrencies other than Bitcoin will be evaluated more based on their ability to generate revenue, similar to stocks and bonds.
Cryptocurrency Prices Are Undervalued!
Matt Hougan argues that investors have not yet fully grasped these changes in the crypto sector, leading to the undervaluation of some cryptocurrencies.
Hougan noted that although blockchain networks encompass millions of users and generate billions of dollars in economic activity, the vast majority of the revenue earned is not passed on to the tokens or token holders.
However, according to Hougan, that era is now behind us. In the new era, projects will reinvest earned profits into the token economy through buybacks and token burns, creating a stronger link between network usage and token value. This will allow some revenue-focused cryptocurrencies to stand out.
$HYPE, PUMP, $UNI and $AAVE Attract Attention!
In this context, Hougan stated that the cryptocurrency market will grow around profitable projects, citing HyperLiquid ($HYPE), Uniswap ($UNI), $AAVE and Pump.Fun as examples.
He stated that all these projects use collected funds for token buybacks or burns, but these mechanisms have not yet been reflected in token prices.
Hougan also noted that revenue-focused tokenomics is not limited to DeFi projects, but extends to first-layer blockchain networks, citing Aptos (APT) and Solana as examples.
The Bitwise Chief Investment Officer also predicts that DeFi applications and first-layer blockchain networks will generate more revenue in the next 12-24 months. According to Hougan, strengthening the link between revenue and token value could cause the value of some crypto assets to double or even increase by more than 100% if investors recognize the market changes.
*This is not investment advice.
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