A recent report from Chainalysis, invested by the FBI, has been released:
According to this report, the number of active addresses with a wallet balance greater than zero has exceeded 400 million for the first time globally.
It is generally believed that active users on-chain are already seasoned crypto users, and the number of active addresses on-chain is also showing exponential growth.
Along with the increase in on-chain addresses, the number of on-chain transactions has also grown, with an average of 10 transactions per address per month, which is quite frequent.
Many people might think that these on-chain wallet transactions are mainly for trading meme coins.
But that's actually not the case:
The main type of on-chain transfer activity is transferring stablecoins, which accounts for half of all on-chain transfer funds.
This trend is related to the increasing popularity of crypto payments, as many services are gradually accepting cryptocurrencies.
The proportion of transactions on-chain for Alts (alternative tokens) represented by meme trading does not exceed 25%, even lower than the ratio in 2021.
Considering that within Alts there will also be a large number of 'pump and dump' groups and project teams inflating their volumes, the meme transactions might account for less than 10% of the total chain's trading volume.
At the same time, the performance of Bitcoin's spot ETF far exceeds that of the gold spot ETF during the same period, with net inflows exceeding $15 billion in the first 240 trading days.
Considering that the gold spot ETF in the United States was approved in 2004, it was 20 years ahead. Given that the U.S. GDP has only grown 2.4 times compared to 20 years ago, even considering the level of economic development, Bitcoin's spot ETF performance exceeds that of the gold ETF.
Currently, there are two peaks of inflows for Bitcoin's spot ETF: the Bitcoin halving event in March and the elections in November.
These two time periods coincide with the two main surges in Bitcoin this year, which can be said to be the largest buyers during Bitcoin's rise this year.
Although the scale of on-chain assets is growing, another asset type that people are concerned about: the trends of real-world assets (RWA) are becoming increasingly extreme.
The main on-chain assets of RWA are the stablecoins USDT and USDC issued by Tether and Circle, while other types of on-chain assets appear to be on the verge of extinction based on data.
The total scale of RWA assets is now even lower than the peak in 2022.
Similarly, Defi has not performed well, as various Defi assets have not outperformed the peak of Defi summer with the increase in on-chain activity.
Therefore, I will show this chart again for everyone to take a closer look, the main conclusions are:
1) The on-chain activity of Bitcoin is quite stable, and there is a market for BTCFi in the future.
2) Activity on the Ethereum chain is almost on the verge of extinction now, and currently, it seems that centralized exchanges are trading vigorously.
3) The acceptance of stablecoins is increasingly widespread, but the dominance of giants Tether and Circle is obvious, with others just trying to ride the wave.
4) The meme scene is not as abundant as imagined.
That's all~