Crypto Market Shifts Focus to Long-Term Fundamentals
The crypto market is undergoing a significant shift in focus from short-term price cycles to long-term fundamentals, according to Hunter Horsley, CEO of Bitwise. This change has been echoed by Brian Armstrong, CEO of Coinbase, who believes that the industry's real-world adoption and technological integration are outpacing digital asset prices.
The current market is characterized by a period of calm after the four-year halving-cycle era, with excessive leverage cleared from the market. This has led to the growth of stablecoin capitalization, exceeding $300 billion, making it a tool for international B2B settlements.
The sector's focus on tokenization of stocks and bonds on blockchain platforms, such as Solana (SOL) and Ethereum (ETH), is generating direct revenue for DeFi protocols. Smart contracts have also begun to be used as a settlement layer for micropayments between autonomous AI agents.