A research report published on Wednesday by a16z crypto, the web3 venture capital arm of American venture capital firm Andreessen Horowitz (a16z), found that cryptocurrency activity and usage reached record highs this year, and the number of mobile wallet users also hit a new high.
The report estimates that monthly active cryptocurrency addresses climbed to more than 220 million as of September this year, a number that has more than tripled since the end of 2023, but after filtering through multiple methods, a16z estimates that there are between 30 million and 30 million monthly active cryptocurrency addresses worldwide. There are 60 million active cryptocurrency users, which only accounts for 5% to 10% of the total 617 million cryptocurrency owners in the world.
Source: a16z crypto
The surge in on-chain activity is mainly attributed to Solana, which has 100 million monthly active addresses, followed by NEAR (31 million), and in third place Base (22 million), a second-tier network developed by Coinbase. On EVM (Ethereum Virtual Machine) ranks first in the chain. The report notes that these trends are also reflected in changes in interest among blockchain builders.
Source: a16z crypto
According to statistics, the total proportion of founders who expressed to a16z that they are building or interested in building on the Solana chain increased from 5.1% last year to 11.2% this year, followed by Base (7.8% to 10.7%), followed by Bitcoin (2.6 % increased to 4.2%). Although Ethereum only increased by 1.1%, it still attracted the most developer interest, accounting for 20.8%.
Source: a16z crypto
In addition, the report pointed out that the Dencun upgrade implemented by Ethereum in March this year and the introduction of EIP-4844 helped the value denominated in ETH on the Layer 2 network increase by 36%, and the proportion of L2 fees paid on L1 dropped by 94%.
“We appear to be at a turning point in crypto infrastructure that is rapidly advancing the expansion of blockchain and will open up new possibilities for applications and user activities,” Daren Matsuoka, a16z crypto data scientist, told The Block Said: "The sharp decline in user transaction fees has helped stablecoins find product and market fit (PMF). We also found that the behavior around NFTs is undergoing a very interesting new shift, favoring low-cost social collection and high prices. , there is less speculative secondary market activity.”
Source
Source
