Regarding the outlook of the crypto market in 2026, there is a relatively systematic analytical framework within the industry worth referencing. This logic is not the opinion of a single institution, but rather a consensus summit forecast, insights from senior analysts, and long-term tracking of policy cycles.

**Core Judgment: From the Gray Area to Standardization**

2026 may become a turning point. Cryptocurrencies are transitioning from the "Wild West" to "Wall Street-style" regulation. With frameworks like FIT21 coming into effect, compliance is becoming the new normal. Bank custody and institutional participation are no longer novel; Bitcoin and Ethereum ETFs will gradually evolve into standard holdings for pensions and sovereign funds—this "second-order effect" will significantly reduce market volatility.

**Asset Differentiation Has Already Begun**

The role of Bitcoin is changing. It is shifting from a simple price speculation tool to a global collateral asset. Market focus will move to the locked-up volume of Bitcoin L2 solutions.

Ethereum is increasingly viewed by institutions as the infrastructure for a "trillion-level RWA settlement layer." On-chain government bonds, real estate, and private credit—these real-world assets are forming mature secondary markets.

What about the altcoin space? A major reshuffle is inevitable. Meme coins without protocol revenue or practical applications will gradually lose liquidity support. Only projects with genuine utility will survive.

**Three Main Growth Drivers**

RWA maturation, AI payment loops, and inclusive stablecoins—these three directions are accelerating. AI Agents will become the main users of cryptocurrencies, and stablecoins will be the only choice for automated payments among them. Meanwhile, the cross-border payment penetration of stablecoins will grow stronger, potentially challenging SWIFT’s monopoly.

**Don’t Ignore the Risks**

Wall Street’s entry may weaken the original intention of decentralization. Geopolitical conflicts could lead to liquidity fragmentation. The asset silo problem in multi-chain ecosystems has yet to be resolved.

Overall, 2026 looks more like the year of market "legitimization." Investment focus will shift toward the trillion-dollar liquidity opportunities brought by asset tokenization.