Wintermute: Five ways the $3tn crypto industry will transform the internet in 2026

Core Viewpoint - Cryptocurrency is transitioning from a speculative asset to becoming the financial transaction layer of the internet by 2026, as stated by Wintermute Ventures [1] Group 1: Infrastructure and Market Dynamics - The infrastructure enabling the free movement of value is currently being built and deployed at scale, moving away from theoretical concepts [2] - Cross-border financial transactions face significant government enforcement and corporate scrutiny, contrasting with the free movement of information [2] Group 2: Predictions for 2026 - Everything will become tradable, with markets expanding into outcomes, events, and information, providing liquidity for previously unmarketed areas [4] - Prediction markets are expected to grow by turning unpriceable outcomes into tradable instruments, with insurance being a sector ripe for disruption [4][5] Group 3: Stablecoins and Settlement - Stablecoins are becoming the default settlement asset in the internet economy, but fragmentation is a bottleneck, highlighting the need for a platform to aggregate stablecoin settlements [6] - A model resembling "onchain correspondent banking" is proposed, where conversion and credit risk shift to issuers, allowing for rapid settlement [7] Group 4: Market Sentiment and Valuation - Investor speculation in cryptocurrencies is predicted to decline by 2026, with valuations shifting towards sustainable earnings rather than short-term hype [8] - Tokens lacking a credible path to value capture are expected to struggle in maintaining demand beyond speculative phases [10]