A new report from the venture firm shows that crypto adoption has surged among consumers, institutions, and stablecoins in 2025.
Crypto has “grown up” in 2025, according to a new report from a16z crypto, the crypto-focused venture capital arm of Andreessen Horowitz, which has $46 billion in committed capital.
The total crypto market grew to over $4 trillion this year, while the number of mobile wallet users rose 20% from last year. The report estimates there are roughly 40-70 million active crypto users, up about 10 million over the past year. Still, this is only a fraction of the 716 million people who own crypto, up 16% from last year.
Meanwhile, stablecoins handled $46 trillion in transactions this year, rivaling payment giants like Visa and PayPal. The total stablecoin market cap stands at $308 billion, up $100 billion since January. Tether’s USDT currently holds the largest market share with a market cap of $183 billion.
A16z says crypto’s growth in 2025 is being driven in part by a clearer regulatory environment, including the markets-focused CLARITY Act, and the stablecoin-focused GENIUS Act, which President Donald Trump signed into law on July 18.
Institutional adoption is another key factor as companies like Visa, JPMorgan, Fidelity, BlackRock, PayPal, and Stripe began offering crypto products this year. The report said exchange-traded products (ETPs) are also helping to drive investment, with on-chain crypto holdings reaching $175 billion, up 169% from $65 billion last year.
The report underscores how 2025 was a turning point for crypto, with people, companies, and institutions using digital assets more than ever.
“In the last three years, crypto builders weathered a major market drawdown and political uncertainty — but continued to make significant infrastructure improvements and other advancements,” the report reads. “Those efforts bring us to today, a moment when crypto is becoming a meaningful part of the modern economy.”
Such infrastructure improvements include networks now processing over 3,400 transactions per second, a 100-fold increase over the past five years, with lower fees and faster speeds. The report highlighted Solana as one of the most prominent blockchain ecosystems driving this growth. Currently, Solana has a total value locked (TVL) of $13 billion.
Looking ahead, the report suggests that with clearer regulations, continued institutional adoption, and stronger infrastructure, crypto can become a core part of the global financial system.
“With greater regulatory clarity on the horizon, a path is clearing for tokens to generate real revenue via fees,” the report states. “TradFi and fintech adoption of crypto will continue to accelerate; stablecoins will upgrade legacy systems and democratize financial access globally; and new consumer products will bring the next wave of crypto users onchain.”
Source: https://thedefiant.io/news/research-and-opinion/2025-is-the-year-crypto-went-mainstream-a16z
