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Crypto asset management firm Galaxy Digital has shared its comprehensive outlook for the crypto market heading into 2026, with a focus on Bitcoin, Ethereum, and Solana. The report highlights a period in which institutional investor interest is expected to deepen, while blockchain-based financial products become more tightly integrated with traditional finance. According to Galaxy Digital, the crypto market is moving toward a more mature and structurally defined phase.
Galaxy Digital: High Uncertainty Ahead for Bitcoin
According to Galaxy Digital’s analysis, Bitcoin is on track to finish 2025 close to where it began the year. After a strong rally in the early months driven by ETF inflows and regulatory optimism BTC reached a new all-time high of $126,080 in October. However, disappointing macroeconomic data, liquidations of leveraged positions, and whale selling later weighed heavily on price action. The report notes that by December, Bitcoin had fallen back toward the $90,000 range, struggling to find clear short-term direction. Wide pricing ranges in the options market further reinforce this uncertainty.
Galaxy Digital refrains from giving a precise Bitcoin price target for 2026. Instead, it points out that options markets are pricing extremely broad scenarios—ranging from $70,000 to $130,000 by mid-2026, and $50,000 to $250,000 by year-end. According to the firm, if Bitcoin fails to establish itself sustainably above the $100,000–$105,000 range, downside risks could persist. Still, over the long term, expanding institutional access and easing monetary policy could position Bitcoin as a “store of value” similar to gold.
“BTC could reach $250,000 by the end of 2027. While 2026 is highly chaotic and difficult to forecast, new all-time highs remain possible.”
— Galaxy Digital Analysts
Solana and Layer-1 Ecosystems: Key Expectations
In its assessment of Layer-1 and Layer-2 ecosystems, Galaxy Digital places particular emphasis on Solana. The report projects that “Internet Capital Markets” on Solana could reach a total market capitalization of $2 billion by 2026.
The firm expects a shift away from memecoin-driven activity toward on-chain business models that generate real revenue. At least one major Layer-1 network is anticipated to integrate a revenue-generating application directly at the protocol level. On the other hand, Galaxy Digital suggests that proposals aimed at reducing Solana’s inflation rate are unlikely to be approved in 2026.
2026 Outlook for Stablecoins, DeFi, and ETFs
Galaxy Digital forecasts that stablecoin supply will grow at a 30–40% compound annual rate, with transaction volumes approaching levels that challenge traditional payment infrastructure. As regulatory clarity improves in 2026, stablecoins are expected to play a more central role in global payment systems.
In the DeFi space, the firm predicts that decentralized exchanges (DEXs) will capture more than 25% of global spot trading volume. It also expects the adoption of futarchy-based governance models within DAOs and projects that crypto-collateralized lending could exceed $90 billion in total volume. On the traditional finance front, Galaxy Digital anticipates the launch of more than 50 spot altcoin ETFs in the U.S., alongside net inflows surpassing $50 billion into spot crypto ETFs.
Overall Assessment
Galaxy Digital’s 2026 report underscores that uncertainty will remain a defining feature of the crypto market, but also makes clear that institutional adoption, ETFs, stablecoins, and DeFi innovation are strengthening the long-term foundation of the ecosystem. While short-term volatility is likely to persist for major networks such as Bitcoin, Ethereum, and Solana, the report signals that crypto’s progression toward mainstream financial integration is firmly intact.
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