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HYPE Future bull markets will benefit from real income platforms
Matt Hougan, chief investment officer of Bitwise, expects a new bull market in the cryptocurrency space, with the main driving force being platforms that generate real income. These platforms will also form deeper synergies with traditional finance, rather than just staying at the speculative level. In recent analysis, Hougan highlighted the importance of Hyperliquid and Robinhood in this upcoming market wave.
What does Hyperliquid's expansion mean?
Hyperliquid is undergoing a critical transformation, evolving from its original cryptocurrency derivatives exchange to a comprehensive Layer 1 blockchain platform. The expansion demonstrates its foray into traditional asset markets, including oil futures, the S & P 500 and digital assets. This strategic move has further diversified Hyperliquid's trading activities, and its business now includes a significant proportion of traditional market transactions.
With innovative protocol design, the platform uses 99% of the generated revenue for HYPE token repurchase, which puts upward pressure on token valuation. This repurchase method has proven to be efficient, with the value of HYPE tokens achieving an astonishing 146% growth in 2026.
Robinhood's bold move to enter the blockchain?
Robinhood has taken an important step in the blockchain field by launching Robinhood Chain. The platform, which once promoted the popularization of stock trading, now expands its business to 120 countries around the world, providing seamless tokenized stock trading services around the clock. This unprecedented accessibility accelerates user engagement, as evidenced by large deposits and high transaction volumes.
Initial user interest was mainly concentrated on memecoin, but Hougan predicts that as the user base expands, tokenized stock trading will increase. The platform's integration with popular DeFi apps such as Uniswap has also enhanced its appeal.
Hyperliquid is expected to achieve an annual profit target of up to US$800 million in 2026. Robinhood Chain quickly attracted market attention, with total early deposits reaching US$300 million. The growing popularity of decentralized finance marks a shift towards broader blockchain integration.
In these exciting developments, the role of traditional financial institutions cannot be ignored. Companies such as Coinbase, BlackRock and JPMorgan Chase are increasing their investment in blockchain. Bitcoin has shown significant resilience, outperforming traditional indices such as the Nasdaq 100, a sign that confidence in digital currencies is returning.
Hougan expressed optimism about the market outlook and emphasized the inclusive growth potential of multiple cryptocurrencies, including Bitcoin and Ethereum. However, he also warned cautiously about integration into the broader economic environment and the changing regulatory environment, pointing to possible challenges in the future.
