State of Crypto 2025: The Year Crypto Went Mainstream
2025 marked the turning point when crypto fully entered the global financial mainstream. After more than a decade of experimentation, the industry has matured into a core part of the modern economy—driven by institutional adoption, stablecoin dominance, onchain finance, and the convergence of crypto with AI. 1. The Crypto Market Is Now Big, Global, and GrowingTotal crypto market capitalization surpassed $4 trillion for the first time.Estimated 40–70 million active crypto users, with 716 milli...
State of Crypto 2025: The Year Crypto Went Mainstream
2025 marked the turning point when crypto fully entered the global financial mainstream. After more than a decade of experimentation, the industry has matured into a core part of the modern economy—driven by institutional adoption, stablecoin dominance, onchain finance, and the convergence of crypto with AI. 1. The Crypto Market Is Now Big, Global, and GrowingTotal crypto market capitalization surpassed $4 trillion for the first time.Estimated 40–70 million active crypto users, with 716 milli...
Wintermute Market Outlook: The Era of Internal Capital Games
Liquidity rules every crypto cycle — and it’s now standing still. Key Takeaways 1.Liquidity drives crypto cycles, but inflows from stablecoins, ETFs, and Digital Asset Treasuries (DATs) are slowing sharply. 2.Global liquidity remains abundant, yet high short-term rates (SOFR) are keeping capital parked in T-bills instead of risk assets. 3.Crypto is in a “self-funding” phase — capital is circulating internally, not expanding externally, until new inflows return. Liquidity: The Real Market Engi...
Wintermute Market Outlook: The Era of Internal Capital Games
Liquidity rules every crypto cycle — and it’s now standing still. Key Takeaways 1.Liquidity drives crypto cycles, but inflows from stablecoins, ETFs, and Digital Asset Treasuries (DATs) are slowing sharply. 2.Global liquidity remains abundant, yet high short-term rates (SOFR) are keeping capital parked in T-bills instead of risk assets. 3.Crypto is in a “self-funding” phase — capital is circulating internally, not expanding externally, until new inflows return. Liquidity: The Real Market Engi...
