Move Over, Degens: The 'Use Case' Era Is Knocking (Finally)

The crypto bull run playbook is getting a dusty rewrite. According to Clem Chambers, founder of ADVFN, Europe's leading stocks and markets website, the industry's trading-driven chapter is winding down like a NFT floor price after the apes stop tweeting. Speaking at BeInCrypto's Markets Intelligence Council, Chambers predicts the next cycle won't be won by viral tweets and meme coin frenzies—it'll be owned by real-world applications that actually do something besides exist on a chart.

"That era has probably ended and certainly is coming to an end. And then that will be replaced by use cases," Chambers said, pointing to a structural shift in how value is created in crypto. Basically, the times they are a-changin', and your shitcoin portfolio might not survive the plot twist.

The divergence is already visible. Bitcoin and Ethereum continue pulling institutional flows, especially in the post-ETF landscape—think of them as the cool kids still getting invites to the party. But mid-tier tokens? They're fighting for scraps of attention and liquidity like a Discord mod defending a dying Telegram group. Meanwhile, quieter sectors are picking up steam: tokenized real-world assets, stablecoin payment rails, and blockchain infrastructure tied to AI and data are generating actual usage, fees, and sometimes even revenue—concepts that seemed almost quaint in previous cycles, when "utility" meant "we have a Discord."

Chambers kept it simple, the way only a market veteran who's seen multiple bubbles can: "Forget Fi and look for apps, not Fi, apps, applications of tokens and blockchains." Bold advice for a space that still debates whether a JPEG counts as a use case.

The signs are there for 2026. Tokenized funds from traditional finance giants like BlackRock are moving into the space like quiet neighbors who turn out to own half the block. Stablecoin payments are gaining traction. Decentralized physical networks and AI-linked protocols are attracting developers and venture capital alike—the VCs finally remembered that software companies are supposed to, you know, make software.

But let's not get ahead of ourselves. Speculative trading still moves prices in the short term, and retail participation remains largely momentum-driven. Plenty of application-layer projects still struggle with user retention and monetization—building it doesn't mean they will come, especially when the gamification rewards run dry.

Still, the trajectory is becoming clearer. If past cycles were fueled by token narratives, the next phase will depend on whether blockchain-based applications can