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CryptoMarkets

Cathie Wood Endorses ‘Best Way’ to Invest in This Crypto Cycle: ‘Get as Close to the End User as Possible

Ark Invest CEO Cathie Wood endorsed on Monday a detailed analysis by her colleague on where value is actually being captured in the cryptocurrency market.

Benzinga

Publisher

Aug 18, 2026 at 9:22 AM UTC · 1 분 소요

Cathie Wood Endorses ‘Best Way’ to Invest in This Crypto Cycle: ‘Get as Close to the End User as Possible
Image via Benzinga

Key Signal

$70B Off-chain 2025 revenue

Market Impact

BTC+5.36%$72,997

Last Updated

3일 전

번역 중…

Ark Invest CEO Cathie Wood endorsed on Monday a detailed analysis by her colleague on where value is actually being captured in the cryptocurrency market.

Getting Close to the End User

Lorenzo Valiente, Director of Research at Ark, examined 2025 global cryptocurrency revenue pools and concluded that off-chain and centralized companies are capturing far more value than on-chain protocols and Layer 1 chains.

Findings revealed that off-chain companies, including exchanges, brokers and stablecoin issuers, generated roughly $70 billion in 2025, 8.5x more than on-chain protocols and L1s.

Lorenzo noted that centralized players sit closer to end users by abstracting away cryptocurrency’s complexities—custody, trading, and staking—and monetize that relationship effectively.

“On-chain is clearly in a bear market, but the lesson for protocols, L1s, and on-chain primitives is to build and verticalize more. Get closer to the end user,” he added.

‘Great Perspective’

Wood said the analysis offered a “great perspective” on the best way to have invested in this cryptocurrency cycle.

“Follow the developers, as always, and get as close to the end user as possible,” the veteran investor added.

Wood’s Crypto Optimism

Market Context

Bitcoin

BTC

$73,000

+5.36% (24H)

Market Cap

$1.47T

24H Volume

$46.7B

24H High

$73,387

View Bitcoin Market Page

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