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ted (not lasso)
@ted
thoughts from a16zcrypto.com/stateofcrypto for discussion cc @a16zcrypto: competition gets most intense when resources are limited. in consumer crypto, resources = users. given the intense tribalism rampant on crypto twitter, it's no surprise that crypto isn't onboarding new users — and we haven't since april. since april, there has been a 3.25x increase in # of unique users on blockchains (37M to 125M) and plateaued mobile wallet users (27M). great, you may think. think again. from april to september: - transactions across blockchains dropped from 2.67B to 2.1B; the avg txns per unique user dropped nearly 75% from 72 to 16.8 - DEX volume dropped nearly 30%. stablecoin volume dropped almost 25%, although had a record month in august. NFT buyers dropped 25% - worse, imo, is the # of active and interested developer building publicly in crypto has been on a downward trend since january 2022 if you're a consumer app targeting crypto only, i hope you have enough runway to wait for a true bull market.
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polymutex
@polymutex.eth
One theory states that crypto's reputation is so cooked that adoption won't take off, at least not in its common meaning of "humans directly touching the chain". It can now only happen by "backend" means, slowly replacing invisible parts of web2 infrastructure. Takes longer and attracts fewer devs as it's not shiny.
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polymutex
@polymutex.eth
https://warpcast.com/polymutex.eth/0xaea6deb3
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