Framework Ventures Co-founder: By 2026, the market focus will shift to mainstream tokens, and institutions will continue to invest in high-quality DeFi blue-chip projects.

On December 30th, Framework Ventures co-founder Vance Spencer wrote, “2025 is not the year the crypto industry has been hoping for, but it is likely to be the year necessary for the industry to continue moving forward. As an industry, we have essentially bid farewell to Meme coins, NFTs, low-liquidity high FDV projects, and the overall consumer-oriented narrative. My prediction for 2026 is that the number of token issuances will significantly decrease, market focus will shift more towards mainstream assets (ETH, BTC), and institutional funds will continue to flow into DeFi blue-chip projects with reasonable value capture mechanisms. This buying activity could be stronger than many expect, especially against the backdrop of ongoing buybacks and high financial discipline at the protocol level. The future of this industry is already very clear: stablecoins, real-world assets (RWA), lending and capital markets, and asset management will become the dominant directions. We will address many issues in the cryptocurrency space by reducing blind expansion, focusing on meticulous development, and pursuing compliance. This is a bullish outlook, but rebound, rally, and exit opportunities will be highly concentrated.”