Bloomingbit CEO Says Narrative Era Is Over in Crypto, Backs Altcoins With Real Demand

Digital Asset Investment Insight Forum 2026

Kim San-ha, CEO of Bloomingbit

"In the past, prices rose on narrative alone, but now only projects that create real demand are being chosen by the market."

Kim San-ha, chief executive officer of Bloomingbit, made the remarks at the Digital Asset Investment Insight Forum 2026 held on July 2 at the Conrad Seoul in Yeouido, Seoul.

Kim said investment criteria in the digital-asset market have changed completely from the past. Investors now focus on whether a project generates real revenue and whether that revenue translates into demand for its token. Tokenomics that can reduce supply through buybacks or token burns after trading activity occurs and revenue accumulates have become central to investment decisions, he said.

He pointed to decentralized exchange Hyperliquid (HYPE) as a representative example. Hyperliquid uses most of the fees generated on the exchange to buy back tokens in the market, he said. The structure is similar to a listed company repurchasing its own shares. Because it buys tokens on a continuous basis, the mechanism can help cushion price declines to some extent.

That model has attracted both institutional and retail money, creating a virtuous cycle in which real revenue generates token demand, Kim added. The market is now being driven by actual revenue rather than simple positive announcements, he said.

Still, he cautioned against making investment decisions based on any single factor. Buybacks help reduce supply, but other variables such as token unlocks also exist in the digital-asset market. Investors should examine all factors that could affect prices before investing, he said.

On Bitcoin, Kim said it remains a good asset for investment, though the high returns seen in the past will be harder to achieve. Bitcoin has grown into an asset so large that prices now need nation-scale capital inflows to move sharply, he said. With the launch of spot exchange-traded funds and institutional participation already well underway, the market is shifting to one in which institutions, rather than retail investors, determine prices.

Even so, he said another major opportunity could emerge when a new source of nation-scale demand appears.

Kim said bigger returns may instead be found in altcoins. Projects with real demand and stable tokenomics can still be strong investment targets, he said.

Jin Wook, Bloomingbit reporter / Bae Tae-woong, reporter