2026 Cryptocurrency Market Turning Point: The Inevitable Evolution from Speculation to Real-World Applications

【CoinDesk】Animoca Brands co-founder Yat Siu’s recent insights are quite thought-provoking. He predicts 2025 will be remembered as the “Year of Trump,” but not because of policy dividends; rather, it’s due to the market over-optimistically betting on political expectations. The industry misjudged the direction of tariffs, interest rate policies, and macro adjustments, resulting in widespread pressure on risk assets. The anticipated “crypto trading” around Trump did not materialize as expected, prompting the industry to reevaluate its direction.

The true transformation will occur in 2026. Siu believes the upcoming keywords are institutionalization and functionalization. On one hand, regulatory frameworks like the “Clarity Act” and the “GENIUS Act” are becoming clearer, and traditional institutions and large enterprises are increasingly motivated to enter the crypto market; on the other hand, market enthusiasm will gradually shift from speculative tokens and Meme coins to utility tokens with clear use cases. This is very realistic — the previous Meme coin boom drained retail liquidity, and the industry needs to calm down and reflect.

At the capital market level, actions are also underway. Animoca plans to go public through a reverse merger with Nasdaq-listed fintech company Currenc Group. The positioning is clear — to create a public market tool for altcoin exposure, offering investors a richer Web3 and altcoin portfolio compared to single-chain tokens. As token issuance and trading rules become clearer, real-world asset tokenization and security tokens will serve as important bridges between traditional finance and on-chain economy.

Siu’s core judgment is that the crypto industry can no longer rely solely on narratives and speculation. Regulatory certainty is increasing, market structures are being reshaped, and 2026 will inevitably become a turning point driven by real applications and user value.