Empire Hivemind: Will 2026 Be Bullish & Crypto's Token vs Equity Problem
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Jan 8, 2026 The hosts delve into whether the start of 2026 will be bullish for crypto amid market rally talks. They tackle the intriguing token vs equity debate, dissecting how tokens struggle with revenue rights, leading to trust issues. The concept of MetaDAO emerges as a potential solution for aligning ownership and value. Discussions also include the challenges of token pricing and the need for legal reforms in securities. Additionally, Solana's block-building competition adds another layer of excitement to the crypto landscape.
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Bullish Q1 Possibility
- Jason Yanowitz expects a Q1 mean-reversion rally as institutions and ETF flows re-enter the market.
- He cautions that conviction needs a stronger Coinbase premium and sustained volume to confirm a durable rally.
Macro Tailwinds Could Help Q1
- Yan Liberman and Ceteris Paribus see macro tailwinds like potential easing and front‑running of policy events as bullish for Q1.
- They warn this may not push crypto to all‑time highs but should create a reassessment window.
Token Design Under Pressure
- Token designs are under scrutiny because most tokens lack legal revenue rights, so markets demand visible value accrual.
- Projects that credibly commit to buybacks or accrual (e.g., Hyperliquid, Lighter) trade with stronger narratives.