Andreessen Horowitz’s 2025 State of Crypto report describes cryptocurrency as a mature, fast-growing financial ecosystem reshaping global markets.
The venture firm, better known as a16z, highlights an industry stepping into what it calls its adulthood phase.
From stablecoins to DeFi, to on-chain finance and institutional adoption, every key metric points upward.
$4 Trillion Market and Millions of Users
According to a16z, the total crypto market capitalization has officially crossed $4 trillion, marking a major milestone for digital assets.
Monthly active crypto users now range between 40 million and 70 million, up roughly 10 million from the previous year.
Mobile wallet adoption hit all-time highs, up 20% year-over-year.
These numbers reflect a maturing base of retail and institutional participants, not just speculators, but users transacting, saving, and building.
Crypto is expanding beyond the “hype” narrative. It’s becoming a utility-driven economy.
Stablecoins: The Heart of On-Chain Finance
If there’s one standout in the 2025 report, it’s stablecoins.
a16z data shows $46 trillion in annual stablecoin transactions (adjusted to $9 trillion), making them one of the largest financial instruments in existence.
That’s 20× PayPal’s annual volume and 3× Visa’s.
Stablecoins have become the preferred rails for moving digital dollars, fast, borderless, and low-cost.
More than 1% of all U.S. dollars now exist as stablecoins on public blockchains.
Together, stablecoin issuers hold over $150 billion in U.S. Treasuries, a figure that surpasses the reserves of several sovereign nations.
It’s no longer a crypto niche, it’s a global macroeconomic force.
Institutions Step In
Institutional participation is no longer a forecast; it’s happening.
The report highlights Stripe’s 2024 acquisition of Bridge, which set off a wave of traditional finance players entering crypto.
- Circle went public soon after.
- JPMorgan, Fidelity, and Visa all launched blockchain-based financial products.
- Even Stripe, Circle, and Robinhood are building their own blockchains.
- Institutional accessibility has also surged through ETFs.
Over $175 billion now sits across Bitcoin and Ethereum exchange-traded funds, opening crypto to a broader base of investors.
For the first time, legacy institutions and crypto-native builders are operating in the same financial system.
AI and Crypto: From Rivals to Partners
One of the most striking themes from this year’s report is the growing synergy between AI and blockchain.
a16z notes that “AI and crypto aren’t competing, they’re converging.”
Artificial intelligence depends on identity verification, secure payments, and provenance tracking, three areas where crypto shines.
Together, they’re shaping what a16z calls “a more open internet,” where both money and intelligence move freely.
Since the launch of ChatGPT, the crypto sector may have lost 1,000 roles to AI automation, but it’s also gained an equivalent number of jobs from other industries transitioning in.
Crypto is becoming an essential layer in the digital infrastructure that AI now depends on.
Blockchain Infrastructure at Scale
Underpinning all of this growth is raw technical performance.
According to a16z’s data, blockchains now process over 3,400 transactions per second, a 100× increase in throughput in just five years.
That’s now comparable to the transaction capacity of major financial markets, including the Nasdaq’s completed trades during market hours.
Fees are lower, networks are faster, and developer activity is stronger than ever.
a16z attributes this progress to infrastructure upgrades, modular chains, and cross-chain liquidity systems that make on-chain finance more usable at scale.
A Turning Point for U.S. Regulation
For the first time in years, the U.S. regulatory environment is shifting toward clarity instead of conflict.
The GENIUS Act and the House approval of the CLARITY Act in 2025 are both cited in the report as key signs of bipartisan momentum.
Together, they reinforce that crypto isn’t an outsider anymore.
It’s part of the U.S. economic system, and ready to thrive under clearer frameworks.
This revival of “builder confidence,” as the report calls it, has already translated into rising developer counts and project launches across Layer-1 and Layer-2 ecosystems.
Seventeen years after Bitcoin’s whitepaper, the crypto industry isn’t rebelling against the old system anymore.
It’s redefining it.
The State of Crypto 2025 report describes this moment as the industry’s “adulthood”, a phase defined not by speculation, but by structure, adoption, and integration.
With trillions in value transacting annually, institutions joining en masse, and blockchains reaching financial-grade performance, the shift is undeniable.
Crypto isn’t a promise of the future anymore. It’s the infrastructure of the present.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/a16z-declares-crypto-has-hit-its-adulthood-phase-in-2025-state-of-crypto-report/
