In brief
- Developer activity is rising again after a post-FTX slump, led by Ethereum, Solana, and zero-knowledge projects.
- Stablecoin transactions now top $9 trillion annually, showing steady real-world use.
- Andreessen Horowitz says U.S. regulation is “finally normalizing,” but warns volatility and fraud still threaten progress.
The cryptocurrency industry is no longer a niche experiment, but a massive, maturing market on the cusp of widespread adoption, according to Andreessen Horowitz’s State of Crypto 2025 report, which dropped Wednesday.
The 54-page analysis paints an optimistic picture of crypto’s trajectory, emphasizing 2025 as the pivotal year for institutional embrace while highlighting surging user growth, technological…
Oct 23 2025
