Many forecasts for 2026 from Galaxy Digital

Galaxy Digital is a large global investment company operating at the intersection of cryptocurrencies, digital assets, and traditional finance. Its analytical team publishes annual forecasts that serve as a reference point for both institutional and retail investors. The 2026 report covers key market segments, from Bitcoin and stablecoins to DeFi, TradFi tokenization, altcoins, and the impact of artificial intelligence. The central theme is that the crypto market is no longer purely a speculative pastime and is becoming increasingly integrated into the global financial system.

Below is an expanded overview of the report’s key conclusions.

Bitcoin: asset maturation and reduced volatility

In 2026, Bitcoin will continue its transformation from an “experimental digital asset” into a mature macro player and a risk-management instrument.

Galaxy Digital analysts forecast:

• BTC will exhibit less extreme volatility compared to previous cycles.
• It will be less associated with short hype spikes and rapid price peaks, and more with hedging macroeconomic risks and protecting against inflationary pressure.
• The focus is shifting from speculation to using Bitcoin as part of a global investment portfolio for professional investors.
• Instead of one dramatic price “race,” the market is expected to see steadier but more balanced dynamics reflecting fundamental factors rather than retail sentiment alone.

This does not mean crypto enthusiasts will lose interest — rather, Bitcoin is becoming more institutionally recognized, and its price dynamics are increasingly correlated with traditional financial assets within the global financial landscape.

Stablecoins: the best use case of the crypto economy

Galaxy Digital notes that among all products of the crypto industry, stablecoins demonstrate the highest level of real-world utility:

• Payment volumes using stablecoins continue to grow, supporting cross-border settlements, fast payouts, and financial operations where traditional systems are slower or more expensive.
• Banks, payment providers, and major institutions, including infrastructures such as Visa, are integrating stablecoins into their payment systems, making these tokens part of the traditional financial ecosystem.
• The transition of stablecoins from a “crypto trading tool” to a core function of money movement strengthens their role and increases adoption in the real economy.

The report emphasizes that stablecoins are not just a convenient tool for traders, but a fundamental element of the future digital economy.

Layer-1 and Layer-2 networks: technological progress and market reality

The development of base blockchain networks (L1) and second-layer solutions (L2) is progressing rapidly, but token price growth increasingly fails to meet technological expectations:

• Networks are becoming more resilient, scalable, and secure. Throughput improves, fees decrease, and functionality expands.
• However, investors are no longer willing to pay simply for the existence of a blockchain — the market demands a clear economic role for the token.
• Price growth for tokens without a clear utility function is slowing or disappearing altogether.

This means L1/L2 projects must demonstrate real use cases, not just technical achievements.

Applications and DeFi: applications earn the money, not blockchains

Galaxy Digital highlights a key trend: value within ecosystems is increasingly accumulating in applications and protocols rather than in the blockchains themselves:

• Decentralized exchanges (DEXs), perpetual markets (perps), and prediction markets are growing rapidly and taking market share from centralized exchanges (CEXs).
• User activity is increasing as participants choose DeFi services for trading, lending, staking, and direct participation in market mechanisms without intermediaries.
• The DeFi ecosystem is maturing, with improved risk-management tools, transparent terms, and clearer yield models.

Applications that effectively combine technological infrastructure with user utility are becoming the main drivers of crypto market growth.

Altcoins: only the strong survive

The report stresses that promises of future “revolutionary changes” no longer work as they once did:

• Most altcoins are poorly designed from an economic perspective and cannot survive without a meaningful utility role.
• Real demand forms around projects with clear business models or real user markets, where the token is integrated into the product’s economy.
• Tokens that fail to demonstrate real demand and value lose investor interest and exit the market.

This means that investors should evaluate altcoins not by the team’s words, but by real usage metrics, network growth, user activity, and financial performance.

Tokenization and TradFi: moving traditional assets on-chain

Galaxy Digital notes that tokenization is one of the key trends set to intensify:

• Stocks, bonds, deposits, collateral, and other financial instruments are gradually moving into on-chain formats.
• Banks, institutional funds, and other major financial players are integrating with blockchain ecosystems, even if end users do not directly notice these changes.
• This makes traditional financial assets more accessible, faster to transfer, and more liquid, while reducing costs and increasing transparency.

Tokenization creates a bridge between traditional financial markets and digital assets, making them part of a single large financial system.

AI + crypto: infrastructure-driven development

The report emphasizes that the combination of artificial intelligence and crypto technologies is developing structurally, but not instantly:

• AI begins generating revenue by creating intelligent products and automating processes, while blockchain provides settlement and accounting infrastructure.
• This is not about quick “multipliers” — growth is slow and infrastructure-driven, with a focus on reliability, security, and sustainable business models.
• Crypto infrastructure will support the computational and settlement needs of AI systems, reinforcing blockchain’s role as a foundational technology.

AI enhances the capabilities of the crypto market, but this influence is long-term in nature and requires deep technological integrations.

Key conclusion of the report

According to Galaxy Digital’s forecast, 2026 will not be a year of mass euphoria or a classic “bull run” similar to previous cycles. Instead, it will be a year of selection.

Cryptocurrencies are ceasing to be an entertainment game of expectations, memes, and speculation.
The structural value of assets, the ability to generate real demand, integration with the financial system, and the sustainability of business models are becoming important.
Investors and projects that focus on real data, fundamental metrics, and transparent business logic will strengthen their positions.

Overall, Galaxy Digital’s forecast for 2026 reflects the transition of the crypto market from the stage of a “game for enthusiasts” to the stage of a mature financial system, where discipline, usage, real utility, and a long-term vision become the key factors of success.