On-chain settlement accelerates, traditional banks face reshuffling.
Author: Delphi_Digital
Translation: Baihua Blockchain
Perpetual contract decentralized trading platforms (Perp DEXs) will become the new generation of Wall Street, with AI agents achieving autonomous trading, transforming trading platforms into "super apps." Here are the core predictions from the report:
1. AI agents begin autonomous trading
The x402 protocol allows any API to set access permissions via cryptocurrency payments. When AI agents need a service, they can make instant payments with stablecoins, consuming shopping carts or subscriptions. The ERC -8004 standard increases trust by establishing credibility (including performance history and staked collateral). Together, these form the autonomous agent economy. Users can delegate travel plans, and AI agents will automatically subcontract to miners for search agents, completing data fees through x402 payments and booking tickets on-chain, with minimal human intervention.
2. Perp DEXs devour traditional finance
Traditional finance is expensive due to fragmentation: trading on trading platforms, settlement at the New York Stock Exchange, and custody at banks. Blockchain will compress all of this into a smart contract. Currently, Hyperliquid is building restructuring capabilities. Perp DEXs may simultaneously become merchants, trading platforms, custodians, banks, and the Manhattan Exchange. Docks like AsterDEX, Lighterxyz, and paradex are accelerating to catch up.
3. Prediction markets upgrade to traditional financial infrastructure
Interactive Brokers (IBKR) Chairman Thomas Peterffy views prediction markets as a real-time information layer for portfolios. Early demand focused on weather consistency for energy, logistics, and insurance risks. A new category will emerge in 2026: stock event markets targeting earnings performance, macro value indicator markets like CPI and Federal Reserve decisions, and cross-asset relative markets. Traders holding tokenized Apple stocks (AAPL) can hedge earnings risk with simple binary contracts or operate complex options. Prediction markets will become primary derivatives.
4. Ecosystem reclaims stablecoin profits from issuers
Last year, Coinbase earned over $900 million in USDC reserve profits just from issuance channels. Public chains like Solana, BSC, and Arbitrum collectively generate about $800 million in fees annually, yet over $30 billion in idle USDC and USDT is locked on their networks. This situation is changing. Hyperliquid has secured USDH reserve profits through bidding. Ethena's "stablecoin instant service" model is being adopted by Sui, MegaETH, and Jupiter. The loss of profits flowing to issuers is being reclaimed by demand-creating platforms.
5. DeFi conquers under-collateralized borrowing
Although DeFi borrowing protocols have massive total locked value (TVL), they almost all require over-collateralization. zkTLS (Zero-Knowledge Transport Layer Security) is the key to unlocking this: users can prove sufficient bank balances while generating identity accounts. 3jane utilizes verified Web2 financial data to provide instant USDC under-collateralized credit lines, dynamically adjusting interest rates based on real-time monitoring. This framework can also provide financing directly based on the performance history (credit score) of AI agents. Maple Finance, Centrifuge, and USDai have been tackling related fields. The year 2026 will see under-collateralized debt transition from experimentation to infrastructure.
6. On-chain FX seeks product-market fit
USD stablecoins account for 99.7% of supply, but this may be the peak of their dominance. The traditional forex market is vast but filled with channels and has low settlement efficiency. On-chain FX eliminates intermediate stages by placing all currencies as tokenized assets on a shared execution layer. Emerging market currency pairs will see significant growth, as traditional forex is most expensive and inefficient there. These overlooked areas are where cryptocurrencies can deliver the most apparent value.
7. Gold and Bitcoin lead currency devaluation trades
Gold surged 60% after being favored, with central banks purchasing over 600 tons even as gold prices hit historic highs. The macro backdrop supports continued strength: global central banks are cutting interest rates, fiscal deficits persist, and global M2 has reached historic highs. Gold typically leads Bitcoin by three to four months. As devaluation becomes a significant topic around 2026, both gold and Bitcoin will attract safe-haven capital inflows.
8. Trading platforms transform into "super apps" (Everything Apps)
Coinbase, Robinhood, BN, and Kraken no longer own trading platforms. Coinbase acts as a platform, with the Base App as the interface, and USDC providing income supplementation. Robinhood's gold membership grew by 77%, becoming a retention engine. BN has over 270 million users, with payment volumes reaching $250 billion. As decentralized costs decrease, platforms with users will gain the highest value. In 2026, winners will begin to pull ahead.
9. Privacy infrastructure catches up with market demand
Privacy is under immense pressure: the EU has passed the Chat Monitoring Act, and cash transactions are limited to €10,000. Privacy infrastructure is rising. payy_link has launched private crypto cards, SeismicSys provides protocol-level encryption for fintech, and KeetaNetwork achieves anonymous KYC. Without public payment trails, the adoption of stablecoins will reach a standstill.
10. Altcoins restore decentralization (not all rise together)
The kind of "broad rise" bull market will not return. Over $3 billion in tokens are locked above, facing competition for funds from AI, robotics, and biotechnology. Capital will concentrate on structural demand: tokens with ETF inflows, protocols with real income and buybacks, and applications with clear product-market fit. Winners will focus on teams that build moats in real economic activities.
Conclusion
Cryptocurrency is entering a phase: institutionalization has arrived. Prediction markets, on-chain credit, agent economies, and stablecoin infrastructure represent a true paradigm shift. Cryptocurrency is becoming the infrastructure layer of global finance.
Article link: https://www.hellobtc.com/kp/du/01/6198.html
Source: https://x.com/Delphi_Digital/status/2011145562456768953
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
