Solstice CEO Ben Nadareski said deeper liquidity and rising institutional participation could make future crypto bull markets less volatile than earlier cycles. Speaking on Cointelegraph’s Chain Reaction show, he said liquidity across major trading pairs has increased significantly even during bear markets, reducing the conditions that drove sharp price swings in previous cycles. Nadareski said crypto is increasingly attracting institutional capital and household wealth rather than serving mainly as a speculative market. A December 2025 report by Glassnode and Fasanara Digital found that Bitcoin’s one-year realized volatility fell from 84.4% to 43%, while daily spot volumes rose to $8 billion-$22 billion from $4 billion-$13 billion in the previous cycle. Nadareski also said Solana’s stablecoin market could grow from about $16 billion currently to more than $50 billion and potentially approach $100 billion within five years, supported by fintech adoption, faster transactions and lower fees. DefiLlama provides the current market-capitalization estimate. CEX.IO data showed stablecoins accounted for 75% of total crypto trading volume in the first quarter of 2026, when transaction volume exceeded $28 trillion. The broader shift toward institutional participation has also led SkyBridge Capital managing partner Anthony Scaramucci to say Bitcoin’s four-year cycle has been muted by institutional investors and spot Bitcoin ETF inflows, although he said the traditional cycle had not disappeared entirely.