DeFi remains popular amid explosion in crypto usage: a16z report
The decentralized finance ecosystem continues to grow despite recent challenges as overall crypto usage hits record levels, venture capital firm Andreessen Horowitz (a16z) said in a new report.
In its “State of Crypto” report published on Oct. 16, a16z noted that the crypto industry has witnessed a major spike in activity over the past year. The growth trajectory for the industry is “reminiscent of early internet adoption.”
For instance, September 2024 saw 220 million addresses interact with protocols across the blockchain ecosystem—more than triple the figures recorded in late 2023. About 100 million of these active addresses were on Solana (SOL), a blockchain network that has registered a massive spike in activity.
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