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State of Crypto 2025: The year crypto went mainstream
This is the year the world came onchain.
When we launched our first State of Crypto report, the industry was still in its adolescence. The total crypto market was worth about half what it is today. Blockchains were much slower, more expensive, and le
Podcast: Themes, trends, and data from State of Crypto 2025
Each year, the State of Crypto report from a16z crypto cuts through the noise and tracks crypto’s evolution across markets, technology, policy, and culture.
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Now in its fourth edition, the 2025 Sta