Bitcoin gets the headlines, but Standard Chartered’s Geoffrey Kendrick thinks the bigger story sits underneath it. The bank’s global head of digital assets research says stablecoins and tokenization are turning some altcoins into real businesses, ones whose fees keep growing while their token prices stay low.
For most of crypto’s history, Kendrick said, the altcoin market moved on speculation. That began to change in mid-2025, when stablecoins found real use. Now some protocols are earning fees from actual activity, and he expects Bitcoin’s share of the market to “gradually come lower” as a result.
Altcoins he is backing
