GM to all of you nutcases. It’s Crypto Nutshell #776 battlin’ back… 🧬🥜

We’re the crypto newsletter that’s more surreal than a trader questioning reality itself while the market bends around him… 💊🌀

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Quantum Computing Unlikely to Impact Bitcoin, Crypto Prices in 2026 - Grayscale

Grayscale just released its 2026 outlook with a bold call…

Bitcoin will hit a new all-time high in the first half of next year.

That forecast is built on two pillars:

On the macro side, Grayscale points to mounting fiat debasement risks driven by rising public debt and inflation pressures.

On the regulatory side, the shift has been dramatic.

Spot Bitcoin ETFs launched in 2024. The GENIUS Act passed in 2025. And in 2026, Grayscale expects Congress to pass bipartisan market structure legislation that "will likely cement blockchain-based finance in U.S. capital markets."

The report also called out the end of Bitcoin's four-year cycle, arguing traditional boom-bust patterns tied to halving events are breaking down as the market matures.

But Grayscale dismissed two narratives dominating recent headlines.

Quantum computing: a "red herring" for 2026.

The firm acknowledged quantum computers pose a long-term cryptographic threat.

A sufficiently powerful system could break public-key cryptography and forge digital signatures.

But timelines matter.

Grayscale cited estimates suggesting quantum systems capable of breaking Bitcoin's cryptography are unlikely before 2030 at the earliest.

Digital asset treasuries: unlikely to be a major swing factor despite media attention.

Notable dismissal given recent hype around corporate Bitcoin adoption. The narrative is loud, but the market impact will be limited.

Grayscale sees a macro backdrop favouring alternative stores of value, regulatory momentum unlocking institutional capital, and structural shifts in how crypto integrates into traditional finance.

Add it up, and they're betting on a new ATH within six months. 🚀

Do you agree with Grayscale’s take?

Let us know your thoughts in the poll below. 👇

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Bitwise CIO Matt Hougan just outlined 3 predictions that should be on every serious crypto investor’s radar.

For context:

Hougan is the Chief Investment Officer at Bitwise, one of the largest crypto asset managers in the world, managing billions on behalf of institutions, advisors, and professional allocators.

When Hougan publishes an investor memo, smart money is reading.

In his investor memo this week, Hougan previewed Bitwise’s 2026 outlook and highlighted 3 predictions on where crypto is heading next.

Let’s dive into them👇

Unlike most of the market right now, Bitwise does not think 2026 will be a “down year.”

The drivers behind the old four-year cycle are fading:

• Each halving matters less
• Rates are expected to fall, not rise
• Leverage has been flushed and regulation is improving

More importantly, institutional capital is only getting started.

Platforms like Morgan Stanley, Wells Fargo, and Merrill haven’t even fully allocated yet.

When they do, Hougan expects Bitcoin to push to new all-time highs in 2026, officially ending the four-year cycle narrative.

This one catches people off guard.

In 2025, Bitcoin was less volatile than Nvidia.

Zoom out and the trend is clear: Bitcoin’s volatility has been falling for years as ownership broadens and ETFs bring in long-term capital.

Hougan sees that continuing into 2026, mirroring what happened to gold after gold ETFs launched in the 2000s.

Despite the headlines, Bitcoin has rarely been tightly correlated with equities.

Hougan expects that correlation to drop further in 2026 as crypto-specific forces take over:

• Regulatory clarity
• Institutional adoption
• Tokenization and on-chain finance

That means Bitcoin doesn’t need stocks to rally in order to move higher.

Put the 3 together and you get what institutions actually want:

Hougan’s view is simple:
If these trends play out, 2026 won’t be the ‘bear’ year everyone expects.

It’ll be the year Bitcoin fully cements itself as a core portfolio asset. 💎

Today we’ll be taking a look the overall stablecoin supply.

Stablecoins are the backbone of crypto liquidity, used for seamless trading and instant cross-border transactions.

The chart below tracks the aggregate change in the total stablecoin market cap.

Two weeks ago, the total stablecoin supply sat at $267.51 billion.

Today it's $270.73 billion.

That's a $2.58 billion increase in the past 14 days.

Bitcoin's been chopping around. Fear's still elevated.

And yet... stablecoin supply just grew by another $2.6 billion.

That's not capital leaving. That's capital loading up. Zoom out and the picture gets even clearer.

Stablecoin supply is up $81.77 billion year-to-date.

Stablecoins aren't just digital dollars. They're dry powder.

Billions in ready-to-deploy capital, already on-chain, waiting for conviction to return. 🔥

Tether Invests in Crypto Startup Powering Stablecoin Use via Bitcoin Lightning Network. USDT stablecoin issuer Tether co-led an $8 million funding round for Speed, which is building via the Bitcoin Lightning Network.

Bitcoin treasury Kindly MD faces potential delisting after Nasdaq price notice. Bitcoin treasury firm Kindly MD has received a Nasdaq notice after its shares traded below $1, triggering a six-month window to regain compliance or face delisting.

U.S. FDIC proposes first U.S. stablecoin rule to emerge from GENIUS Act. The banking regulator began its formal rulemaking process to set up the procedures by which depository institutions can start stablecoin subsidiaries.

'DeFi will win,' Aave CEO says after SEC ends years-long probe. On Tuesday, Aave CEO Stani Kulechov said that the SEC had "concluded its investigation" after four years. 

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Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

Because what would the crypto world be without its share of memes?

Trivia Answer: Around 70% 🥳

At its peak, Mt. Gox handled roughly 70% of all Bitcoin transactions worldwide. When it collapsed after losing 850,000 BTC (later recovering 200,000), it nearly destroyed Bitcoin's credibility. The remaining funds are still being distributed to creditors over a decade later.

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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.