The cryptocurrency industry has witnessed significant growth in 2024 due to rising coin prices, but the number of on-chain users is uneven across chains. A report from Flipside shows that only Base, Coinbase's layer-2 network, recorded an extraordinary increase in users, rising 56 times since the beginning of the year. Base attracted 13.7 million new users, nearly 8 times that of Polygon.

Ethereum also recorded impressive growth with 1.56 million new users monthly, surpassing Arbitrum and Optimism. Institutional adoption and moves from Grayscale have contributed to this growth.

In contrast, Bitcoin only saw a slight increase with 935,900 new users monthly, despite BTC prices exceeding $100,000. This indicates that speculative activity still prevails. 🪙