Following years of frenetic hype and wild headlines, the world of crypto appears remarkably quiet in 2025. But does this calm constitute the death knell — or a tactical pivot behind the scenes? This blog investigates the state of cryptocurrency, looking at the deceleration in mainstream hype, the development of blockchain tech, advances in regulation, and the emergence of quieter but more sophisticated applications such as stablecoins, CBDCs, and tokenized assets. We reveal if crypto is on the slide — or just getting ready for its next great bound.