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Crypto monthly active addresses are hitting all-time highs: A16z

Author: Content Editor
A new report from Andreessen Horowitz highlights that gaming and social media are the dominant use cases for cryptocurrencies. The report, titled "The State of Crypto 2024," reveals that decentralized finance (DeFi) has the highest number of daily active addresses, followed closely by stablecoins. Infrastructure comes in third place. The report also highlights that there has been significant growth in the number of monthly active addresses, with an all-time high of 220 million. Solana and Base are identified as the most active addresses. The report suggests that the goal should be to convert passive crypto holders into active users. Additionally, the report emphasizes that venture capital investment in infrastructure has led to maturity in the sector and increased transaction processing speed. The report predicts that legislation will play a significant role in the crypto industry in the coming years, and institutions are expected to diversify their portfolios beyond just Bitcoin and Ethereum. The price-innovation cycle is also expected to continue driving the crypto market.

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