#夏日创作营 Bitwise CIO: Crypto market shows signs of bottoming out; the next bull run will be driven by the convergence of on-chain and traditional finance. Bitwise Chief Investment Officer Matt Hougan posted an analysis saying the crypto market is beginning to show bottoming signs—since July 1, Bitcoin is up 9% while the Nasdaq is down 6%, ETF inflows have turned positive, and market sentiment has improved.


Hougan believes the next bull run will be driven by the convergence of on-chain finance and traditional finance, with core tracks including stablecoins, tokenization, 7×24-hour trading, instant settlement, and institutional DeFi.
He suggests focusing on two kinds of opportunities:
One is crypto-native applications represented by Hyperliquid (HYPE)—with real revenue and a strong tokenomics model (99% of revenue used for buybacks and burn of HYPE); the token is up 146% this year;
The other is traditional financial institutions represented by Robinhood (HOOD)—its Layer 2 blockchain Robinhood Chain attracted over $300 million in deposits within two weeks of launch, processing 3.6 million transactions per day on average, supporting 7×24-hour trading tokenized stocks for users in 120 countries.
Hougan said he is bullish on mainstream assets such as Bitcoin, Ethereum, and Solana, as well as crypto stocks, and he is also watching institutions scaling their presence in crypto such as Coinb, Figure, BlackRock, Visa, Stripe, and JPMorgan.
BTC-1.13%
NAS100-0.22%
HYPE-2.28%
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#夏日创作营 Bitwise CIO: Crypto market shows signs of bottoming, the next bull run driven by the convergence of on-chain finance and traditional finance. Bitwise Chief Investment Officer Matt Hougan posted an analysis saying the crypto market is showing signs of a bottom—since July 1, Bitcoin is up 9% while the Nasdaq is down 6%, ETF inflows have turned positive, and market sentiment has improved.
Hougan believes the next bull run will be driven by the integration of on-chain finance and traditional finance, with core tracks including stablecoins, tokenization, 7×24-hour trading, instant settlement, and institutional DeFi.
He suggests focusing on two types of opportunities:
One is crypto-native applications represented by Hyperliquid (HYPE)—with real revenue and a strong tokenomics model (99% of revenue used for buyback and burn of HYPE). The token has risen 146% this year;
The other is traditional financial institutions represented by Robinhood (HOOD)—its Layer 2 blockchain Robinhood Chain attracted more than $300 million in deposits in just two weeks after going live, processing 3.6 million transactions per day on average, supporting tokenized stocks for users in 120 countries with 7×24-hour trading.
Hougan said he’s bullish on mainstream assets such as Bitcoin, Ethereum, and Solana, as well as crypto stocks, and is also watching institutions such as Coinb, Figure, BlackRock, Visa, Stripe, and JPMorgan for scaled expansion in the crypto space.
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· 5h ago
坚定 HODL 💎
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