The latest State of Crypto report from a16z reveals that stablecoins are gaining traction due to reduced transaction fees, showcasing strong product-market fit. As a result, there has been consistent growth in the number of stablecoin-sending addresses, demonstrating increasing user engagement despite macroeconomic fluctuations. Some notable statistics include that stablecoin issuers have risen to become significant holders of US debt, outpacing traditional countries like Germany. The report highlights a current estimate of 30 to 60 million active crypto users, indicating that a portion of crypto owners are engaging with their assets beyond merely holding them. The piece emphasizes the importance of continuing to improve infrastructure and creating use cases for crypto to enhance user engagement and facilitate mass adoption.

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