DACM Insights: What’s driving markets in 2026 with Coinbase

In conversation with David Duong, Head of Institutional Research at Coinbase

In this episode of DACM Insights, Richard Galvin sits down with David Duong, Head of Institutional Research at Coinbase, to discuss the structural shifts reshaping crypto markets in 2025 and beyond. David shares his framework for calling 2025's market bottom, explains why Bitcoin's four-year cycle thesis is flawed, and reveals how institutional liquidity is driving a generational transfer of Bitcoin ownership from OG holders to new market participants. We explore the explosive growth potential of stablecoins ($1.2T by 2028), the coming tokenization revolution in traditional finance, and why the "K-shaped economy" could fundamentally change crypto adoption patterns.