The latest report from Silicon Valley's legendary venture capital group Andreessen Horowitz (a16z) shows that global cryptocurrency activity and usage have reached record levels, with monthly active users reaching 30 million to 60 million, accounting for 5% of the world's 617 million cryptocurrency holders to 10%.
Andreessen Horowitz's Web3 venture capital fund "a16z crypto" pointed out in the (Cryptocurrency Status) report released on Wednesday that the number of addresses that interacted with blockchain technology at least once hit a new high in September, with monthly active addresses reaching 220 million. 3 times higher than the end of 2023.
a16z crypto also found that the number of monthly users of cryptocurrency wallets via mobile phones reached 29 million in June this year, also hitting a record high.
The report mentioned that Solana is the main contributor to the explosive growth of cryptocurrency activity and currently has about 100 million active addresses; NEAR ranks 2nd with 31 million active addresses; Tron ranks 3rd with the number of active addresses Reaching 14 million; Bitcoin follows closely, with 11 million active addresses.
In terms of the Ethereum Virtual Machine (EVM) chain, Base ranks first with 22 million active addresses; Binance's BNB Chain is second, with 10 million active addresses; Ethereum ranks third, with about 6 million active addresses. .
The report pointed out that Ethereum introduced "EIP-4844" in the Dencun upgrade in March this year, which caused the value of Ethereum on the Layer 2 network to increase by 36%. At the same time, the transaction fee expenditure of Ethereum Layer 2 accounted for a smaller proportion of all Layer 1. A significant drop of 94%.
Daren Matsuoka, a16z crypto data scientist, said: "We are at an important turning point in the construction of cryptocurrency infrastructure. These developments have greatly improved the scalability of the blockchain and will bring new opportunities for applications and user activities."
Daren Matsuoka also added that the decline in transaction fees has helped stablecoins better meet market demand. At the same time, NFT usage behavior has also seen significant changes, gradually shifting from the high-priced, speculative trading market in the past to low-cost, social collection activities, showing an emerging trend.
"a16z report: Cryptocurrency activity and usage hit new highs, with monthly active addresses reaching 220 million." This article was first published on (Block Guest).
