Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).
The majors including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Binance Coin (BNB) made new All-Time-Highs (ATH).
Yet, the momentum fizzled in the second half of the year in part due to macro-economic uncertainty (tariffs, inflation, Fed rates) and the flash crash on Oct 10 that wiped out a lot of over-leveraged investors.
After trading up 34% and 43% at their peaks, BTC and ETH have given up all those gains and are now down -7% and -12%. Meanwhile, privacy coins like Zcash (ZEC) and Monero (XMR), and exchange coins (BNB, OKB, KCS, HYPE) have outperformed.
After a volatile 2025, I anticipate a bullish turn in 2026, propelled by macroeconomic shifts and growing institutional momentum.
The U.S. Federal Reserve is expected to ease monetary policy as U.S. headline and core inflation cool, potentially lowering interest rates and rekindling investor appetite for risk assets.
Spot Bitcoin and Ether ETFs funds could absorb over 100% of new BTC and ETH issuance while policymakers in the U.S. move to integrate stablecoins into mainstream finance, spurring competition between crypto issuers and traditional banks for digital dollar dominance.
Meanwhile, tokenization of real-world assets (RWA) is at an inflection point, with on-chain RWA volumes poised to expand from billions toward trillions of dollars.
As for emerging sectors, Crypto-powered AI networks and tokenized physical infrastructure (DePIN) are also gaining traction.
Bittensor (TAO), a blockchain for decentralized AI, is emerging as a standout. Its network incentivizes developers to train and share machine learning models for token rewards. In late 2025 Bittensor underwent its first halving, cutting daily TAO emissions to 3,600 and mirroring Bitcoin’s 21 million supply cap.
Source: altfins.com
With growing institutional interest and expanding AI subnets, this could be a key moment for the network’s evolution. The project’s novel “subnet” architecture made Bittensor one of the most active ecosystems in decentralized AI. TAO’s scarce tokenomics and early-mover advantage, paired with sustained AI hype, position it for potential outperformance in 2026.
In the DePIN sector, Helium (HNT) stands out by powering a decentralized wireless network. Now on Solana, Helium partnered with major carriers like AT&T and Telefónica to offload mobile data onto its community hotspots.
Data credit burns reached ~$1.5 million per month in late 2025 as subscriber fees converted into HNT and get burned. HNT’s supply also halved in 2025, tightening tokenomics.
With 115,000+ hotspots (+18% QoQ) online by Q3 2025 and growing demand for decentralized connectivity, Helium’s real-world traction (including revenue-sharing with carriers) and revamped economics could drive strong performance in 2026.
Finally, a key investment theme emerging in 2026 is the rise of projects with significant on-chain earnings, well-capitalized treasuries, and structured capital return programs.
These protocols treat tokenholders more like shareholders, implementing buybacks, fee distributions, or staking yields funded from real protocol revenue.
Traders and funds are increasingly prioritizing these models for their measurable value accrual and reduced reliance on token inflation.
Tokens with transparent treasury operations and automated buyback mechanisms are expected to draw the sharpest interest in 2026.
