Bitwise Chief Investment Officer Matt Hougan on Wednesday said crypto is becoming a revenue-driven market and most investors have not noticed yet, creating a valuation gap that could double prices across major DeFi tokens.
Why Does Hougan Say Crypto Valuations Look too Low?
Hougan wrote in a Wednesday Bitwise note that for years, the biggest criticism of crypto was that tokens generated no revenue for holders.
That changed when Paul Atkins replaced Gary Gensler at the SEC and Ripple (CRYPTO: XRP) won its landmark case in August 2025.
Revenue is now back on the table and the biggest crypto projects are moving fast to capture it.
