Crypto winter looms in 2026, but Cantor sees institutional growth and onchain shifts

Cantor Fitzgerald forecasts a potential crypto winter in 2026, aligning with Bitcoin's historical four-year cycles, but believes this downturn will differ from past ones. Unlike previous crashes, this period is expected to be less chaotic, shaped by increasing institutional participation and advancements in decentralized finance (DeFi), tokenized assets, and crypto infrastructure. The value of tokenized real-world assets (RWAs) has tripled in the past year and is projected to exceed $50 billion in 2026. Decentralized exchanges (DEXs) are gaining market share, and the recent passage of the CLARITY Act in the U.S. provides regulatory clarity, potentially attracting more banks and asset managers to the crypto space. While risks remain, such as Bitcoin's price relative to institutional holdings, the report suggests a solid foundation is being laid for more durable infrastructure and deeper institutional adoption.

(Source：CoinDesk)