StacyMuur

Lol, 3 a.m. for me.
Prompted ChatGPT on the AI-related phrases that make everyone mad.

2025 = The year when they said "yes" to crypto.

Most important charts of 2025 series:
So many launches this year – but so few are good.
Supply inflation is real.
And no one is winning from it.
Sad news.

I have a strong feeling that fully private + permissionless is a big thesis for the next few years.

Most important charts of 2025 series:
Chains are no longer the killer app. They are in the efficiency zone now: More usage, lower fees, lower FDVs.
A thesis of potential narrative repricing here.
Alpha news.

Most important charts of 2025 series:
Bitcoin is now an institutional asset, not an alternative to the TradFi system – but an asset that is a part of it.
US spot BTC ETFs have already attracted over $90B, with ~1M BTC on balance sheets of ~190 public companies.
Good news.

Most important charts of 2025 series:
Non-trading fee revenue is the new moat.
Coinbase rev = Stablecoins (44% of non-trading), staking (27%), subscriptions (19%), fees (10%).
CEXes → Superapps.
Alpha news.

Btw, @Grayscale's 2026 Digital Asset Outlook landed, and it's quite a bullish institutional take.
The thesis:
The four-year cycle is dead (the theory that crypto markets follow recurring boom-bust patterns tied to Bitcoin halvings).
What's replacing it? Steady institutional accumulation that will push Bitcoin to new all-time highs in the first half of 2026.
Two forces are colliding to make this happen:
1️⃣ Dollar Debasement Risk (Macro Push)
US debt spiraling toward 100%+ of GDP is eroding confidence in fiat currencies. Investors are turning to programmatically scarce assets like Bitcoin and

Most important charts of 2025 series:
The new revenue layers are emerging, beyond trading.
Watching AI, stablecoin infra, and other DeFi primitives as a new gen of successful business models with a PMF.
Alpha news.

Merry Xmas, my fam <3

This is still a thesis.
Nobody wants non USD stablecoins.

Most important charts of 2025 series:
We're already very close to Visa volumes btw.
Stablecoins are the new gen money.
Now that's inevitable.
Good news.

One thing that gets lost in ZK discourse: privacy ≠ scaling.
Most ZK systems today optimize cost or throughput.
@AleoHQ is optimizing confidential state: who can see what, when, and why.
As crypto moves toward:
• on-chain identity
• RWAs
• institutional capital
• consumer apps
→ full transparency becomes a liability, not a feature.
Aleo is one of the few teams treating privacy as core infrastructure.

Most important charts of 2025 series:
If you feel like Bitcoin is still "an early bet" for TradFi, this chart shows the realistic picture.
The gap between gold and Bitcoin is not too big.
Good news.

The stablecoin market reached $299B in total market cap.
Here's what stands out in the data ↓
1️⃣ Two stablecoins dominate the market
> Tether: $188.7B (63% of total market)
> Circle (USDC): $74.3B (25% of total market)
Together, these two account for $263B, which is 88% of the entire stablecoin market. The remaining 12% is split among dozens of other stablecoins.
2️⃣ Growth rates vary significantly
Over the past 30 days:
• RLUSD (Ripple): +17.49%
• Paxos: +11.78%
• MakerDAO: +6.65%
• Tether: +1.48%
• Circle: +0.89%
• Ethena: -16.80%
RLUSD grew fastest despite being newly launched and reaching

As 2025 wraps up, I took a look at active addresses across major L2 chains - a key onchain metric for measuring user activity and engagement.
1-Year Growth Numbers:
Explosive Growth:
• Soneium: +9999% (Sony's new blockchain)
• Unichain: +9999% (Uniswap's new L2)
• Ink: +2103%
• Starknet: +433%
Positive Growth:
• World Chain: +25%
• Celo: +19%
Major Declines:
• Linea: -86%
• Base Chain: -78%
• OP Mainnet: -66%
• Arbitrum One: -59%

Most important charts of 2025 series:
>> In 2025, we finally have a surge in revenue-generating apps. Startups become businesses.
Good news.