BITWISE CIO MATT HOUGAN: CRYPTO EFFICIENCY COULD DRIVE 2026 SURGE Bitwise CIO Matt Hougan says crypto is becoming more efficient at capturing value, setting the stage for a potential surge in 2026: • $UNI may flip its governance token to capture fees - burning ~16% of trading fees could push UNI toward top 10 by market cap. • $ETH Fusako upgrade (expected Dec. 3) could boost staking economics and execution layer efficiency, making ETH a leader in the rebound. • $XRP is exploring staking to improve token holder economics. Hougan says token value capture is rising across the board, and this structural improvement could be the hidden catalyst for the next crypto bull cycle. Crypto fundamentals are improving, with the Clarity Act and Market Structure Bill moving forward. Big inflows could hit the market soon.
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