[Bitwise CEO: The Crypto Industry is Maturing and Diversifying, with 'On-Chain Finance' as the Focus for the Next 12 Months] Bitwise CEO Hunter Horsley stated in an article that it has become increasingly difficult to discuss 'crypto' as a whole — the field has diversified into multiple independent tracks such as Bitcoin, blockchain infrastructure, tokenization, stablecoins, perpetual contracts, meme coins/NFTs, and lending markets, which is a sign of the industry's maturation. He noted that just as it is challenging to define 'the next catalyst for internet companies,' it is becoming increasingly difficult to answer 'the next catalyst for crypto.' Looking ahead to the next 12 months, industry discussions will focus more on 'on-chain finance.'