The Stablecoin Podcast Alana Levin on what trends shaped the crypto industry in 2025
Feb 24, 2026
Alana Levin, an investment partner at Variant who focuses on crypto infrastructure and stablecoins, lays out three compounding S-curves shaping crypto’s next decade. She discusses exploding asset issuance, why ETFs unlocked institutional demand, and how stablecoins dominate B2B payments and on-chain utility. Short takes on interoperability, non-USD stablecoins, and signals she watches round out the conversation.
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Top Crypto Assets Gain Stickiness From Liquidity And Lindiness
- Top crypto rankings are sticky due to lindiness, entrenched holder bases, and liquidity thresholds that attract large funds.
- Only ~20 assets currently meet the daily liquidity profile needed for big institutional allocation.
Consider Issuing Stablecoins If You Hold Large Dollar Deposits
- Companies with large dollar deposits should evaluate issuing stablecoins to capture economics and enable new products.
- Banks, retailers, or fintechs can tokenize deposits for yield, branded money, or loyalty mechanics (Starbucks/Walmart examples).
Stablecoins Show Clear Product‑Market Fit In Payments
- Stablecoins are furthest ahead in on‑chain utilization, notably in cross‑border payments and payroll.
- Use cases include faster vendor settlement in shipping and streaming payroll to global workers for capital efficiency.