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 less reliable.
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. Those efforts bring us to today, a moment when crypto is becoming a meaningful part of the modern economy.
The story of crypto in 2025 is one of industry maturation. In short, crypto grew up:
- Traditional financial…
