The State of Crypto index, which measures innovation and adoption in the crypto industry based on 14 key non-financial metrics, hit another all time high last month.

Several of the underlying metrics also individually hit all time highs. Here are some highlights 👇

1. Active Addresses - In March there were 37M active addresses across all tracked blockchains, a 34% month-over-month growth. The top chain by monthly active addresses: Solana.
https://a16zcrypto.com/stateofcrypto/active-addresses

2. Mobile Wallet Users - After trending down for most of 2022 and 2023, mobile wallet users have now grown month-over-month for 5 consecutive months. March was a breakout month with 27M users - driven by significant growth in wallets like World App and Phantom. 
https://a16zcrypto.com/stateofcrypto/mobile-wallet-users

3. DEX Volume - Volume on decentralized exchanges hit an all time high in March; notably, low-transaction fee blockchains like Base and Solana captured a majority of this activity.
https://a16zcrypto.com/stateofcrypto/dex-volume

None of the above should be taken as investment advice or an advertisement for investment services; please see https://a16z.com/disclosures/ for more information.

Good stuff but most of these might just be the usual tourists? Even if 10% continue to stay / be active that could be big (?)

I hope today I am lucky to get a gift from you🚀