The web3 investment arm of Andreessen Horowitz, a16z Crypto, has released a new “State of Crypto” index, which offers an optimistic overview of the emergent asset class.
The venture capital firm, known for supporting companies and projects such as dYdX, LazerZero, and Dapper Labs, unveiled the index along with its similarly titled State of Crypto report.
The index takes into account various adoption and innovation metrics, including the number of active developers, mentions of crypto in scholarly research, and trading volumes on decentralized exchanges, but doesn’t incorporate bankruptcies, blockchain breaches, or regulatory enforcement actions.
Bitcoin’s price has dropped by more than half from its peak in 2021, but a16z’s index only fell by a quarter. The index also shows developer count has gone down by 25% from its highest point, while the transaction count has only decreased by 10%, from 1.3 billion to about 1.17 billion.
Some indicators have, however, declined significantly, such as the number of wallet users and the trading volumes on decentralized exchanges compared to last year.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/apr/12/
