a16z State of Crypto Report 2025 paper
Overview
State of Crypto 2025 is the annual research report published by a16z crypto, the crypto arm of venture firm Andreessen Horowitz, subtitled "The year crypto went mainstream." The report compiles industry data on adoption, infrastructure and regulation, noting that total crypto market capitalization crossed $4 trillion for the first time and that monthly active users of blockchain applications reached roughly 40-70 million. It also highlights stablecoin growth under a clearer U.S. regulatory framework, rising blockchain throughput, and emerging use cases such as prediction markets, perpetual futures and tokenized real-world assets. a16z's annual State of Crypto reports are widely cited as benchmarks for measuring sector adoption.
Within the DeFi Intel graph, a16z State of Crypto Report 2025 connects to 2 tracked entities, most strongly to a16z Crypto, a16z State of Crypto Report 2024.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
publishes | a16z Crypto | 85% |
covers | a16z State of Crypto Report 2024 | 80% |
Frequently asked questions
Who publishes the State of Crypto report?
It is published annually by a16z crypto, the crypto investment arm of the venture capital firm Andreessen Horowitz.
What is the subtitle of the 2025 edition?
The 2025 edition is subtitled "The year crypto went mainstream."
What headline market figure does the 2025 report cite?
It notes that the total crypto market capitalization crossed the $4 trillion mark for the first time.
Sources
Facts on this page were verified against the following sources.