In 2026, the crypto space will only focus on two tracks: prediction markets and AI narratives combined. The rest won’t perform well. ZAMA raised $100 million, did an ICO to raise more money, but still couldn’t take off—straight to breaking issue price. The narrative for perpdex is clear, the leader has emerged. Hyperliquid’s position in the industry is hard to shake, unless other platforms can attract more users from countries that can’t use compliant exchanges. Move less, observe more. There are plenty of investment opportunities outside of crypto.