Crypto prices remain low while institutions adopt blockchain technology, says STS Digital CEO

Crypto prices stay far below record highs despite growing institutional interest

Crypto token prices remain much lower than their all-time highs, even as large financial institutions continue to adopt blockchain technology. Maxime Seiler, CEO of STS Digital, described this situation as a "crypto winter" for prices but an "institutional summer" for adoption.

Seiler spoke at the Wyoming Blockchain Symposium 2026. He explained that institutions are using blockchain technology without necessarily investing in the tokens themselves. This has created a gap between the growth of the technology and the performance of crypto prices.

Bitcoin, the largest crypto, was trading above $77,000 early on August 21, 2026. This is about 38% below its record high of $126,000. Ethereum, the second-largest crypto, was around $2,400, which is 52% below its peak. Solana was trading at $90.93, roughly 69% below its highest price.

Key observations from STS Digital CEO

• Institutions are adopting blockchain technology but not necessarily buying crypto tokens.
• Bitcoin futures basis has dropped from 20%-30% in 2021 to near the risk-free rate.
• Dollar flows into and out of crypto have become deeper and less volatile.
• STS Digital recently partnered with Clear Street to power its digital asset offering.

What the CEO said about market changes

Seiler pointed to the bitcoin futures basis as a sign of market maturation. The futures basis is the difference between the price of a futures contract and the current spot price. In 2021, this difference reached 20%-30% on an annualized basis. Now, it has moved closer to the risk-free rate, which is the return on an investment with zero risk.

"Future bases have converged pretty close to the risk-free rate and they have also become much more stable," Seiler said. He attributed this change to better channels for dollars to move into and out of crypto markets.

STS Digital's recent developments

STS Digital announced a partnership with Clear Street Digital. Under this agreement, STS will power Clear Street's digital asset offering. Bob Rutherford, CEO of Clear Street Digital, also revealed plans to introduce 24/6 trading across all asset classes.

"We live in a global economy where news cycles rotate every five minutes," Rutherford said. "And nobody cares if it's Sunday at 2 in the morning."

Seiler added that 24/7 trading will require changes in how margining, clearing, and collateral settlement work. He mentioned that platforms like Hyperliquid, which see activity on weekends, are pushing traditional finance to extend its hours.

STS Digital raised $30 million in a strategic funding round in February 2026. The firm is regulated by the Bermuda Monetary Authority and acquired Swiss crypto market maker Flovtec in August 2024.

What is confirmed

• Crypto token prices remain significantly below their all-time highs.
• Institutions are adopting blockchain technology.
• Bitcoin futures basis has decreased and stabilized compared to 2021.
• STS Digital and Clear Street Digital have formed a partnership.
• Clear Street plans to introduce 24/6 trading across all asset classes.
• STS Digital raised $30 million in February 2026 and acquired Flovtec in August 2024.

What is still unclear

• Whether institutional adoption will eventually lead to higher crypto token prices.
• How quickly traditional finance will adapt to 24/7 trading demands.

Why this matters for crypto markets

The gap between low crypto prices and growing institutional adoption suggests that the market is evolving. Institutions are building on blockchain technology, which could lead to more use cases and stability in the long term. The stabilization of the bitcoin futures basis indicates that crypto markets are becoming more mature and less volatile.

The move toward 24/6 trading reflects the global nature of financial markets. As crypto trading operates around the clock, traditional finance may need to adapt to keep up with demand.

Sources

• The Block