These 4 Charts That Show Crypto Adoption is Still Surging 

Cryp­to mar­kets remain down around 65%, or $2 tril­lion in total mar­ket cap­i­tal­iza­tion, from their peak in Novem­ber 2021.

The indus­try has been bat­tered by a bar­rage of attacks from reg­u­la­tors and politi­cians, espe­cial­ly in the Unit­ed States. More­over, the wave of hacks and exploits has con­tin­ued unrelenting.

Nev­er­the­less, there is a sil­ver lin­ing, and that is growth and adop­tion across the sector.

On Sept. 26, DeFi researcher Thor Hartvigsen shared four charts show­ing that the “mar­ket and cryp­to adop­tion is in a much bet­ter place than you might think” before exclaiming:

“I am more opti­mistic about the future of Crypto/DeFi than I’ve ever been.”

Crypto and DeFi Growth Charts

The first chart was of the total dai­ly wal­lets across the Ethereum and the layer‑2 land­scape. Users in the Ethereum ecosys­tem are at an all-time high despite being two years into a bear mar­ket, not­ed the researcher.

Are We Get­ting Close To A Bull Market?🐂

I am more opti­mistic about the future of Crypto/DeFi than I’ve ever been.

4 charts show­ing that the mar­ket and cryp­to adop­tion is in a much bet­ter place than you might think👇

———————-1️⃣———————-

Ethereum +… pic.twitter.com/SSbVtGkFkl

— Thor⚡️Hartvigsen (@ThorHartvigsen) Sep­tem­ber 26, 2023

The next chart was the over­all sta­ble­coin mar­ket cap, which has been in a steady decline for the past year, sig­nal­ing out­flows from the industry.

That decline stopped in ear­ly August 2023, sug­gest­ing that the down­trend and bear mar­ket may be com­ing to an end.

The third chart was the most impres­sive. It shows how fast the Ethereum net­work has grown in terms of revenue.

The net­work has sur­passed the likes of Microsoft and Meta (Face­book) for rapid rev­enue growth, hit­ting $10 bil­lion in just sev­en years.

“The chart below illus­trates the speed at which Ethereum has gath­ered prod­uct mar­ket fit and become a wide­ly used product.”

Ethereum sur­pass­es $10B in rev­enue faster than Face­book and Microsoft. pic.twitter.com/Ys4snTQPVN

— Her­cules | DeFi (@Hercules_Defi) Sep­tem­ber 26, 2023

Final­ly, there was a liq­uid stak­ing chart show­ing that it has reached all-time highs despite the bear mar­ket. “Infra­struc­ture upgrades can act as large cat­a­lysts dri­ving more cap­i­tal to the space,” not­ed the researcher.

Other Bullish Factors

There are a num­ber of oth­er fac­tors to be pos­i­tive about despite the cur­rent mar­ket lethargy.

Cryp­to exchange-trad­ed prod­ucts are like­ly to be approved soon as pres­sure mounts on U.S. finan­cial regulators.

Real-world asset (RWA) tok­eniza­tion is also a mas­sive growth sec­tor with­in the cryp­to indus­try. Hartvigsen concluded:

“Sen­ti­ment is at an all-time low but real prod­ucts with actu­al demand are get­ting built. The space is mov­ing in a healthy direction.”

Final­ly, Web3 star­tups are still rais­ing more than $200 mil­lion per month in cryp­to win­ter, as report­ed by Cryp­toPota­to this week.