Where Will the Next Bull Market's Main Battlefield Be? The Answer Lies in These Two Types of Assets
Matt Hougan, Bitwise's CIO, identifies the fusion of traditional finance and on-chain finance as the core driver for the next crypto bull market. He expects this cycle, propelled by real-world utility and global finance adoption, to be the largest yet, centered on stablecoins, asset tokenization, 24/7 trading, instant settlement, and institutional DeFi growth.
The article outlines two primary investment approaches tied to this trend. The first focuses on native crypto applications with strong revenues and sustainable tokenomics, exemplified by Hyperliquid (HYPE). Its Layer-1 chain is gaining significant trading volume from traditional assets like oil and equities. Its model of using 99% of revenues for token buybacks is a key strength.
The second approach targets established traditional firms building at scale on crypto rails, like Robinhood. The launch of its Robinhood Chain, enabling global trading of tokenized stocks and DeFi activities, represents a major move towards this fusion. The author also notes other serious contenders like Coinbase, Figure, BlackRock, and JPMorgan.
Ultimately, the thesis is that the most profound success will come when blockchain technology seamlessly integrates into finance, becoming invisible to end-users. Investors are advised to position ahead of this convergence.
Foresight News1 год тому
