Crypto Tokens Prepared for Appreciation Amid New Rules, Analysts Claim
According to Cointelegraph, various cryptocurrency tokens are becoming more effective at retaining and redistributing value, driven by both regulatory changes and technological advancements. This movement could result in strong price increases in 2026, as projected by Matt Hougan, director of investments at Bitwise. In a recent post on X, Hougan emphasized that, despite the current bearish scenario, important transformations are going unnoticed — especially the growth of what is called 'value capture' within digital assets.
He explained that a large portion of the tokens in the market was conceived at a time when capturing value directly was considered risky, which led many projects to opt for poorly defined governance models. Now, with clearer and more mature regulations, these models are being revised, and Hougan believes that their effects will begin to manifest strongly starting in 2026.
The Uniswap (UNI) token, native to the protocol of the same name, has already shown signs of this movement by recording a recent increase following a joint proposal from the Uniswap Foundation and Uniswap Labs. The initiative seeks to make UNI more attractive to investors by introducing a token burn mechanism through protocol fees and a Fee Discount Auctions system aimed at increasing returns for liquidity providers. For Hougan, this is a clear example of a token that starts to capture value more directly. He states that if the proposal advances, UNI has the potential to enter the top 10 by market value. Historically, UNI functioned solely as a governance token, without the trading volume on the protocol benefiting its holders. The activation of a fee switch — which would direct about 16% of trading fees to burn UNI — could completely change this dynamic.
Hougan also cited the Fusako upgrade of Ethereum as a potential value driver for the ETH token. Set to debut on the mainnet in December, the upgrade promises enhancements to the execution layer and improvements in the staking economy, among other important updates. The analyst believes that if Fusako launches as planned on December 3rd, it could become an underestimated catalyst capable of positioning Ethereum at the forefront of a future market recovery.
Furthermore, Hougan mentioned Ripple's XRP, pointing out that new studies and community discussions on possible staking mechanisms may transform the economic structure of the asset. According to him, the trend of increasing the value capture of tokens is gaining traction and challenges the idea that this aspect of crypto assets remains immutable.
Hougan's observations highlight a transforming market, where networks and tokens are evolving into more robust and efficient models — paving the way for significant advancements in the coming years.
