5 Charts That Explain Crypto Right Now

In this episode of the Web3 with A16Z podcast, host Robert Hackett interviews Daren Matsuoka about key metrics for assessing the growth and adoption of crypto technologies in 2025. Daren provides updates on five metrics: monthly mobile wallet users, adjusted stablecoin transaction volume, ETF net flows, decentralized versus centralized exchange spot trading volume, and total transaction fees. While most metrics show healthy growth, total transaction fees have declined due to scalability improvements. Daren also highlights the surprisingly low number of tokens generating significant revenue and discusses recent news indicating the maturation of the crypto industry, including Circle's public offering and increased involvement from traditional financial institutions.