Messari’s 2025 thesis provides a comprehensive analysis of the current state of the crypto market and its future.
The report highlights critical trends, key players and transformative technologies shaping the industry at a pivotal time.
Projections for next year
The report begins by emphasizing resilience. Despite facing headwinds such as high-profile bankruptcies, increased regulatory pressure, and layoffs at key companies, the crypto industry remains stable. The collapse of FTX in 2022 and subsequent regulatory crackdowns have created uncertainty, but these crises have also eliminated unsustainable models.
Layer-1 blockchains like Ethereum and Solana have demonstrated their strength by continuing to build adoption and scalability solutions. At the same time, Bitcoin’s dominance has rebounded as it solidifies its position as a store of value and institutional asset.
Another important theme Messari identifies for 2025 is a return to fundamentals. The industry is once again shifting toward decentralized, permissionless systems and user-centric innovation. This marks a shift away from the speculative and centralized ventures that have contributed to collapses in recent years.
The rise of decentralized finance (DeFi) platforms like Aave and MakerDAO reinforces this shift, as these platforms continue to grow without relying on intermediaries. The focus on decentralization is also reflected in protocols that work to improve governance and increase on-chain activity.
Bitcoin Dominance, RWAs and DeFi
Messari highlights investment themes that are set to dominate 2025, with Bitcoin and tokenized real-world assets (RWAs) standing out. Bitcoin’s success in 2024 signals strong institutional confidence supported by products like Bitcoin ETFs.
At the same time, tokenized RWAs are poised to reshape markets by bringing traditional assets such as real estate, bonds, and stocks onto blockchain networks. Projects such as Centrifuge and Ondo Finance have emerged as key players in connecting traditional finance with blockchain technology.
RWA Protocols, Thesis 2025. Source: Messari.
Influential figures and companies are also identified as driving innovation. Individuals like Vitalik Buterin remain at the forefront of blockchain scalability solutions such as Ethereum rollups and layer 2 networks like Optimism and Arbitrum.
Companies like Coinbase and Robinhood Crypto are adapting to regulatory changes and strengthening their global presence. This is particularly true in Europe, where the Markets in Crypto-Assets Regulation (MiCA) provides a favorable framework for growth.
Crypto regulation: Europe leads, US faces promising uncertainty
The report also discusses the importance of policy developments. Thanks to MiCA, regulatory clarity in regions such as the European Union has laid the groundwork for wider adoption. However, uncertainty persists in the United States.
Messari points to the U.S. Securities and Exchange Commission’s (SEC) ongoing legal battles with companies like Coinbase as a critical area to watch in 2025. The outcome of these cases will shape how crypto assets are classified and traded in one of the world’s largest financial markets.
Finally, technical advances are poised to redefine the crypto industry. Advances in scalability and data management are addressing blockchain’s most pressing limitations. Layer 2 solutions like Ethereum’s rollups and Bitcoin’s Lightning Network have significantly improved transaction speeds and reduced costs.
Furthermore, the integration of artificial intelligence with blockchain technology is emerging as a transformative trend. AI-powered smart contracts and decentralized data solutions are expected to automate financial processes and enable new applications, solving scalability and automation challenges that hinder wider adoption.
In fact, as we enter the next year, AI x Crypto remains one of the most compelling and unexplored spaces within the crypto world. While sectors like DeFi have become established categories, AI x Crypto remains an emerging vertical with external tailwinds from the booming AI industry. The bullish case for this space is that it will successfully bridge two of the most explosive technology stacks, Messari analysts wrote.
Messari’s crypto thesis for 2025 paints a picture of an industry that has faced adversity but remains ripe for innovation. By focusing on decentralization, regulation, and technological advancements, the sector is maturing into a more transparent ecosystem.
With Bitcoin's continued dominance, the rise of RWAs and the regulatory framework in Europe, 2025 could mark a turning point in the evolution of crypto.
The article Messari Report Predicts Crypto Market Trends in 2025 was first seen on BeInCrypto Brasil.
