Hashed: In 2026, crypto will enter the "application and real economy integration" phase

BlockBeats News, December 19, crypto venture capital firm Hashed released "The Protocol Economy: 2026 Thesis". The article believes that 2025 will be the year when crypto shifts from "storytelling" to "execution", with real users, real trading volume, and real revenue becoming the core industry evaluation standards, and stablecoins becoming the foundational infrastructure for real-world applications.

2026 will usher in a year of application explosion and connection to the real economy: AI will reshape Web3 development and interaction methods, privacy will become the biggest structural issue after scalability; stablecoins will upgrade from payment tools to enterprise operational capital infrastructure, RWA will be the first to achieve large-scale application, on-chain private credit and sustainable yield markets will emerge, while ETH/BTC will remain the core indicators of the risk cycle.