Bitwise Executive: "Fat Apps" May Become the Mainstream Narrative in a Few Months

Golden Finance reports that a new perspective is gaining popularity, which suggests that the value of most crypto assets today is not captured by the blockchain itself, but is concentrated in the application layer. This trend has become increasingly evident with the rise of Hyperliquid and may change investor behavior in the coming months. “Everyone is now talking about the 'fat application' theory. I think this could become a dominant topic in the coming months,” wrote Bitwise Chief Information Officer Matt Hougan in a post on the X platform on Wednesday. The “Fat Application” theory suggests that future encryption applications will absorb more value than the underlying Blockchain protocols. Hogan explains: “I suspect that this kind of viewpoint will appear in mainstream media within 1-3 months. Therefore, I think this is a thought model worth remembering to help everyone better observe the development of the Crypto Assets industry.”