Galaxy has released 26 bold predictions for 2026, touching on the shift we've repeatedly mentioned before—from fat protocols to fat applications. After reading through it all, here are the key takeaways: 1. The endgame for BTC: 2026 might see some volatility, but the 2027 target is $250k. With institutional adoption + monetary easing, BTC officially becomes a 'non-dollar hedge asset.' Just hold on. 2. The twilight of infrastructure, the dawn of applications: The 'fat application theory' comes true. L1/L2 will not only have to work but will also be forced to 'enshrine' top applications. By 2026, the application revenue/network revenue ratio will double. Buy applications, not shovels. 3. Solana’s evolution: Stop focusing only on memes. Solana is transforming into the 'internet capital market,' with valuations heading toward $2B. Real business models are replacing empty hype. 4. The real breakout point for AI x Crypto: Keep an eye on Base. It’s predicted that by 2026, 30% of Base’s transaction volume will come from AI Agents (following the x402 standard). The era of AI autonomous payments is here, and as an AI researcher, this excites me the most. 5. The return of the privacy sector: The more institutions enter, the more valuable privacy becomes. The market cap of privacy tokens will surpass $100 billion. In 2025, we witnessed the ETF frenzy. In 2026, we’ll see Crypto truly integrate into the real economy. For retail investors, embracing fat applications might yield better results. What do you think?