The next major narrative in the crypto market is likely to focus on the on-chain migration of financial services—driven primarily by the United States. This shift could lead to a complete reshuffle and reorganization of the altcoin ecosystem, similar to the DeFi explosion in 2020, which sparked a paradigm shift across the entire industry. However, in terms of the timeline, this wave may not truly kick off until the second half of 2026. From a different perspective, this means that the market evolution over the next year or more could revolve around this expectation, providing early participants with more opportunities.