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The 2025 Crypto Trends Report | Alana Levin

Dec 1, 2025
In this intriguing discussion, Alana Levin, an investment partner at Variant specializing in crypto-native ventures, unpacks the 2025 Crypto Trends Report. Dive into insights on regulatory advancements that are reshaping the landscape and the inevitable rise of branded stablecoins. Alana highlights the explosive growth of decentralized exchanges spurred by new token models and the evolution of wallet technologies. She also shares her predictions on the future of digital currencies and the dynamics of on-chain foreign exchange markets.
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INSIGHT

Custody Is The Bottleneck For Asset Accumulation

  • Custody and institutional-grade infrastructure lagged expectations and slow asset accumulation beyond Bitcoin ETFs.
  • Alana says custody, liquid markets, and security must mature before broad institutional accumulation accelerates.
INSIGHT

Top Assets Reinforce Their Dominance

  • Top crypto assets consolidate because of Lindy effects and easier underwriting for institutions.
  • Alana notes higher market caps attract attention and create inertia that's hard for newcomers to overcome.
ADVICE

Balance Crypto-Native And Tokenized Public Firms

  • Invest across both crypto-native businesses and traditional firms that go public then tokenize later.
  • Alana advises evaluating what products build sustainable fundamentals and revenue rather than chasing purely speculative tokens.
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