The first half of 2026 is already coming to a close. Fidelity’s team has summarized the six months and identified the main trends in crypto.
Fidelity Digital Assets analysts have summarized the first half of 2026 and identified six structural trends that, in their view, are shaping the industry’s development. Experts emphasize that the market is undergoing a phase of “technical retooling,” not simply a price cycle.
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Key Crypto Trends of 2026
1. Convergence with TradFi. Accelerated crypto integration with traditional finance: options on spot bitcoin ETPs, growth of asset tokenization by banks, and improved regulatory environment.
2. Token Holder Rights. Projects such as Hyperliquid and Aave are actively implementing buyback and revenue-sharing mechanisms. However, the market has not yet priced in a noticeable premium for such models.
3. AI Mining Competition. Demand for AI computing power has led to resource outflows from traditional mining. Bitcoin’s 30-day hashrate fell 8.8%, and difficulty dropped 7.8%.
4. Bitcoin Evolution. Increased OP_RETURN usage has not bloated the blockchain. Bitcoin Core dominance remains high at 77%. Interest in quantum-resistant upgrades is growing.
5. Institutional Capital. Despite bitcoin falling 13% early in the year and ETF outflows, institutions continue to accumulate positions amid improving regulatory clarity.
6. De-dollarization and Gold’s Role. States and central banks are actively increasing gold reserves and seeking dollar alternatives. Fidelity noted that bitcoin and gold are increasingly viewed as neutral, seizure-resistant assets.
Iran as a De-dollarization Example
Analysts paid special attention to Iran’s decision to accept transit fees for ships passing through the Strait of Hormuz in Bitcoin and stablecoins. Tehran could receive up to $20M to $21M, or approximately 280-282 BTC▲$64,217.00, per day. This is seen as an important signal of alternative settlement systems forming outside US control.
However, Fidelity notes that bitcoin has not yet fully confirmed its status as “digital gold“—its correlation with the metal remains weak.
Fidelity’s Conclusion
Despite volatility and temporary price pressure, fundamental metrics and market infrastructure continue to strengthen qualitatively. Analysts believe 2026 will be a period of preparation for the next major growth cycle.
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