Hougan Sees Hyperliquid and Robinhood Fueling Crypto's Next Rally
Bitwise Chief Investment Officer Matt Hougan believes the convergence of traditional finance and blockchain technology will fuel Bitcoin's next rally. Two key players in this trend are Hyperliquid, a derivatives platform generating nearly $800 million in annual revenue, and Robinhood, which has launched its own Layer 2 blockchain.
Hyperliquid uses 99% of its earnings to buy back HYPE tokens, driving a 146% price surge in 2026. Hougan thinks this model will be replicated by other crypto assets, making the token double in price and still be fairly valued.
The 'Robinhood Lane' encompasses established financial companies building blockchain-based services at scale. Robinhood's Layer 2 network enables users in 120 countries to trade tokenized stocks around the clock, with over $300 million in deposits within two weeks.