Wall Street broker Bernstein anticipates a tokenization "supercycle" in 2026, suggesting digital assets have likely bottomed after a weak end to 2025. Analysts, led by Gautam Chhugani, maintain a bitcoin forecast of $150,000 for 2026, with a peak target of $200,000 in 2027. Despite bitcoin's 6% decline in 2025, crypto equities saw record returns, averaging 59%. Bernstein identifies Robinhood, Coinbase, Figure, and Circle as key tokenization proxies, though it has lowered price targets for Circle and Coinbase. The report highlights stablecoins' expansion into mainstream banking and payments, predicting a 56% increase in total supply to $420 billion by 2026. Tokenization of real-world assets is expected to see onchain value more than double to $80 billion, with prediction markets potentially doubling in volume to $70 billion.