Bitwise CIO says crypto market will grow around profitable projects

Bitwise CIO Matt Hougan said the crypto market will grow around projects that generate profits. In a post on X, Hougan said Hyperliquid (HYPE), Pump.fun (PUMP), Uniswap (UNI), Aave (AAVE), Aptos (APT) and Solana (SOL) all use generated fees for buybacks or token burns, but those mechanisms are not yet reflected in the tokens’ prices. Hougan had also said in May and July that the market was showing rising interest in protocols that return fee revenue to token holders.