Here’s an updated overview of Andreessen Horowitz’s (a16z) findings on crypto activity hitting all-time highs in 2024–2025:
🚀 Crypto Activity Hits Record Levels
- According to a16z’s State of Crypto report released in October 2024, crypto activity soared to unprecedented levels:
- Approximately 220 million unique blockchain addresses interacted at least once in September 2024, a more than 300% jump from the end of 2023.(Crypto News)
- Of those, an estimated 30–60 million monthly active users were engaging in crypto activity globally among roughly 617 million crypto owners.(Quartz)
🔍 What’s Driving the Surge?
Major Blockchain Platforms
- Solana dominated with ~100 million active addresses.
- NEAR followed at ~31 million, then Coinbase’s Base L2 (~22M), Tron (~14M), and Bitcoin (~11M). Ethereum lagged with ~6M.(Crypto News)
DeFi, Stablecoins & Use Cases
- DeFi led in daily active usage, with stablecoins close behind (~34% vs ~32%).(Blockworks)
- Stablecoins now serve as crypto’s killer app, especially in inflation-hit countries like Argentina, India, and Nigeria, due to low transaction fees and ease of cross-border value transfer.(Crypto News)
Infrastructure Improvements
- Transaction fees plummeted: Ethereum layer‑2 gas fees dropped from ~$12 in 2021 to around $1, while Base averages under $0.01 per USDC transfer.(Crypto News)
- Solana became the first chain to collect more in total fees than Ethereum, even though its per-transaction cost is significantly lower (~1 cent vs ~$5).(a16z crypto)
📱 Adoption and Engagement Trends
- Mobile wallet use reached 29 million monthly active users by June 2024, driving adoption especially among retail users. Emerging markets now outpace the U.S., with top growth in Nigeria, India, and Argentina.(a16z crypto)
- Developer interest surged:
- Founders building on Solana doubled from ~5.1% to ~11.2% year-over-year.
- Base, Ethereum, Polygon, Optimism, and Arbitrum all saw increased attention.(crypto.news, a16z crypto)
📅 Trends & Outlook for 2025
A16z’s 2025 outlook emphasizes several emerging trends:(Cointelegraph)
- AI‑powered blockchain use cases: Including decentralized chatbots, AI agents in wallets, and proof-of-personhood systems.
- Tokenization of unconventional assets: Government bonds, biometric data, and more entering onchain infrastructure.
- Mass adoption of stablecoins: Particularly for everyday payments in SMEs and for remittances, potentially replacing credit card volume.
📊 Summary Table
| Metric / Trend | Key Insight |
|---|---|
| Active Addresses | ~220M blockchain addresses used in Sept 2024 |
| Monthly Active Users | ~30–60M among ~617M total crypto owners |
| Blockchain Leaders | Solana (~100M), NEAR (31M), Base (22M), Tron (14M), Bitcoin (11M) |
| Average Fees | ~$1 on Ethereum L2s; <$0.01 on Base for USDC transfers |
| Use Case Growth | DeFi and stablecoins dominate daily use (~32–34% share) |
| Developer Interest | Solana builder share rose from 5% → 11% year-over-year |
| Emerging Trends (2025) | AI-integrated blockchain, tokenization, stablecoin adoption for SMEs and remittances |
✅ Bottom Line
The a16z State of Crypto 2024 highlights that crypto activity reached its highest level ever in 2024, driven by rapid growth in active addresses, low transaction fees, rising utility of stablecoins, and global mobile wallet usage. Looking ahead in 2025, AI integration and tokenization are primed to further expand crypto’s real-world applications.
Let me know if you’d like to explore any specific metric—like DEX vs. CEX volume trends, tokenization forecasts, or builder interest by blockchain.