Antony Parsons
According to a recent report by a16z crypto, the crypto market has witnessed an all-time high in terms of activity and usage, signaling increased adoption and interest in digital currencies. There are approximately 617 million crypto owners and 30-60 million monthly active users worldwide, excluding bots and temporary addresses.
Low Percentage of Active Users
Interestingly, only 5-10% of users can be considered active, highlighting the vast opportunities for engaging passive crypto users.
Infrastructure Upgrades to Drive Growth
Advances in infrastructure have enabled the crypto market to scale more efficiently, with increased capacity and significantly lower transaction costs. Major infrastructure improvements could lead to the development of new and attractive decentralized applications (dApps), which could, in turn, increase user engagement. As the crypto ecosystem continues to evolve, we can expect to see more user-friendly and accessible platforms.
Most Active Blockchains and Wallets
The majority of activity is concentrated on:
- Solana (100 million active addresses)
- NEAR (31 million active addresses)
- Base (22 million active addresses)
- TRON (14 million active addresses)
- Bitcoin (11 million active addresses)
Other notable mentions include EVM networks like:
- Binance Smart Chain (10 million active addresses)
- Ethereum (6 million active addresses)
Growing Mobile Wallet Adoption
The number of active mobile wallet users has increased to 29 million, with the US accounting for 12% of the total. Notably, the US share is decreasing due to regulatory concerns, while countries like Nigeria, India, and Argentina are showing positive growth.
DeFi’s Growth
Decentralized finance (DeFi) has rapidly become the most attractive category for builders, surpassing blockchain infrastructure, and accounting for 34% of daily active addresses. The growth of DeFi has also led to the emergence of decentralized exchanges (DEXs), which now account for 10% of spot crypto trading activity.
Tether’s USDT User Base
Recall that Tether reported that its stablecoin, USDT, is used by 330 million crypto addresses and on-chain accounts.
Key Takeaways
- 617 million crypto owners and 30-60 million monthly active users worldwide
- Only 5-10% of users are active, highlighting growth opportunities
- Infrastructure upgrades could drive engagement and adoption
- Mobile wallet adoption is growing, with 29 million active users
- USDT is used by 330 million crypto addresses and on-chain accounts
