Bitwise Reports Crypto's Longest Losing Streak Since 2022

Key Insights:

• Bitwise records the highest losing streak since 2022 as crypto news reports a third straight quarterly decline.
• Stablecoins settled 2.3x Visa volume as tokenized assets climbed to $32.89 billion.
• Prediction markets hit $43.2B while crypto prices extended a third straight quarterly decline.

Crypto news took another bearish turn after Bitwise reported that the digital asset market recorded its third consecutive quarter of negative returns. The company said this marks the longest losing streak since 2022, even as several blockchain activity indicators continued to expand.

Its latest quarterly data recorded weaker prices across large-cap assets, record Bitcoin ETF outflows, and slower activity in several market segments.

At the same time, stablecoins, tokenized real-world assets, prediction markets, and selected crypto businesses continued posting high growth, displaying the difference between market prices and blockchain usage.

Bitwise said the Bitwise 10 Large Cap Crypto Index declined by 15.4% during the second quarter of 2026. Eight of the index’s 10 digital assets ended the quarter with negative returns. The company also reported that spot Bitcoin exchange-traded funds experienced their largest quarterly outflows on record.

According to Bitwise, on-chain activity, trading volumes, and decentralized finance assets also declined during the quarter. The company added that cryptocurrency’s correlation with stocks increased over the same period.

Despite lower prices, Bitwise said the market has now recorded three consecutive quarters of negative returns. It identified this as the longest losing streak since the 2022 bear market.

The report also pointed to differences between market prices and blockchain activity. Bitwise said Ethereum transaction activity now stands about 13 times above levels recorded during the previous market bottom. It also noted that decentralized finance total value locked has increased by more than 60% since then.

Stablecoin assets under management have also doubled from the 2022 market low. Bitwise stated that the prices remain the main area that has not matched the growth seen across blockchain activity.

Crypto news during the quarter also included continued growth across blockchain payment infrastructure and tokenized assets.

Bitwise reported that stablecoin settlement volume reached 2.3 times the volume processed by Visa. The company also said stablecoin issuers now hold more U.S. Treasury securities than most countries.

The figures follow earlier industry data showing adjusted stablecoin transaction volume reached $10.9 trillion during 2025. The total settlement volume reached $33 trillion using broader measurement methods.

Separately, Visa’s stablecoin settlement run rate reached about $7 billion as of March 2026. Meanwhile, Bitwise said tokenized real-world assets increased by 50.3% during the first half of 2026. The industry reached a total market value of $32.89 billion.

The reported growth in crypto news follows continued institutional participation in tokenization. Earlier industry data also showed the tokenized real-world asset market approaching $34 billion as Treasury products and Ethereum-based assets continued expanding.

Bitwise also identified several sectors that continued growing despite weaker cryptocurrency prices.

Prediction market trading volume reached a record $43.2 billion during the second quarter. The company said that figure was nearly 18 times higher than the same period one year earlier.

Crypto-related equities also outperformed large-cap digital assets. The Bitwise Crypto Innovators 30 Index gained 30.6% during the quarter while the firm’s large-cap crypto index declined.

In addition, Bitwise reported that Hyperliquid, PancakeSwap, and Aave each generated about $900 million in revenue over the previous year. Bitwise linked those results to continued activity across decentralized trading, lending, and derivatives platforms.

The post Crypto News: Bitwise Reports Crypto’s Longest Losing Streak Since 2022 appeared first on The Coin Republic.