a16z State of Crypto Index

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a16z State of Crypto Indexa16zcrypto.com
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a16z State of Crypto Index

AI summary of the linked article

a16z's 2025 State of Crypto report argues that crypto has matured into a meaningful part of the modern economy, describing 2025 as the year the world came onchain. The total crypto market cap crossed $4 trillion for the first time in 2025, and an estimated 716 million people own crypto. Stablecoins processed $46 trillion in transaction volume over the past year, or $9 trillion on an adjusted basis that filters out bots, while Bitcoin and Ethereum exchange-traded products held over $175 billion.

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Lol the innovation indicator misleadingly spikes because the contract deploys indicator spiked and so

1. I‘d like to understand what that spike is; and
2. why contract deploys has such a big influence over the overall index

Just qualitatively, in my mind, most indicators trend downward, so why is the composite index trending upwards.

The maintainer from a16z should take a look at the methodology here. This us no doubt useful, but I think it would be worth tweaking.
It seems they're not publishing the weights, which does put a question mark on the utility of publishing a "methodology."