A new \u201cState of Crypto\u201d report by venture capital firm Andreessen Horowitz (a16z) shows that the blockchain space achieved all-time highs for usage and activity.<\/p>\n
According to the paper, 220 million addresses interacted with a blockchain at least once in September 2024, a figure three times higher than that recorded at the end of 2023.<\/p>\n
Most of the activity came from Solana, which logged 100 million active users, followed by NEAR, which had 31 million. Coinbase\u2019s Layer 2 (L2) network, Base, was third, with 22 million wallets engaging it at least once, while 14 million interacted with Justin Sun\u2019s Tron network.<\/p>\n
For its part, Bitcoin cataloged 11 million unique users, followed in sixth place by Binance\u2019s BNB Chain, which had a million fewer.<\/p>\n
Additionally, interest in Solana among blockchain builders reportedly grew by 11.2% from a more modest 5.1% in 2023. There was also enthusiasm for Base, with its total share of builders jumping 10.7% from last year\u2019s 7.8%.<\/p>\n
Likewise, the number of crypto founders interested in the Bitcoin ecosystem went up to 4.2%, a slight uptick from the 2.6% that showed any attraction to the network in 2023.<\/p>\n
Another notable revelation from the a16z study is the explosive growth of stablecoins, which have outperformed traditional payment systems. In the second quarter of 2024, they processed $8.5 trillion in volume, more than twice Visa\u2019s $3.9 trillion in the same period.<\/p>\n
Commenting on the report<\/a>, a16z researcher Darren Matsuoka said<\/a> stablecoins have become the crypto ecosystem\u2019s standout \u201ckiller app,\u201d driven primarily by minimal transaction fees. He pointed out that sending USDC on L2 networks like Base now costs less than a penny, a stark contrast to the hefty $44 average fee for international wire transfers.<\/p>\n Further, the paper indicated that crypto has become a major political issue, with the U.S. elections due in the next few weeks.<\/p>\n Both Donald Trump<\/a> and Vice President Kamala Harris<\/a> have made overtures to the crypto community to varying degrees. A recent survey<\/a> from Galaxy Research shows that while Trump is more favored, the community is optimistic that Harris could be more supportive of the industry than Biden has been.<\/p>\n Data from Google Trends shows swing states such as Pennsylvania and Wisconsin had seen a rise in search interest for cryptocurrency, placing them among the top five states with the highest growth in crypto curiosity.<\/p>\n Other key battlegrounds where crypto interest went up include Michigan and Georgia, with the opposite happening in Arizona and Nevada.<\/p>\n According to a16z, one cause of the increased fascination with digital assets is the listing of spot Bitcoin and Ethereum ETFs. Together, these products currently have nearly $90 billion in on-chain holdings.<\/p>\n The post New Record as Blockchains Reach 220M Active Addresses: a16z<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A new \u201cState of Crypto\u201d report by venture capital firm Andreessen Horowitz (a16z) shows that the blockchain space achieved all-time highs for usage and activity. According to the paper, 220 million addresses interacted with a blockchain at least once in September 2024, a figure three times higher than that recorded at the end of 2023. […]<\/p>\n","protected":false},"author":0,"featured_media":15078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15077"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15077"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15078"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crypto\u2019s Growing Role in U.S. Politics<\/h2>\n