a16z
DeFi remains popular amid explosion in crypto usage: a16z report
Published
2 months agoon
By
adminThe decentralized finance ecosystem continues to grow despite recent challenges as overall crypto usage hits record levels, venture capital firm Andreessen Horowitz (a16z) said in a new report.
In its “State of Crypto” report published on Oct. 16, a16z noted that the crypto industry has witnessed a major spike in activity over the past year. The growth trajectory for the industry is “reminiscent of early internet adoption.”
For instance, September 2024 saw 220 million addresses interact with protocols across the blockchain ecosystem—more than triple the figures recorded in late 2023. About 100 million of these active addresses were on Solana (SOL), a blockchain network that has registered a massive spike in activity.
As well as Solana, other networks to see a significant increase in active addresses are Near Protocol (NEAR), Coinbase’s layer-2 network Base, Tron (TRX) and Bitcoin (BTC).
Stablecoin and crypto regulation
The report also highlighted several growth metrics and key issues surrounding the crypto industry since a16z’s first State of Crypto report in 2023.
One major takeaway is that crypto has become a significant political issue amid the U.S. election. However, the United States lags behind the European Union and the United Kingdom in public engagement regarding crypto regulation.
The market has also seen considerable developments around stablecoins, including their regulation and usage. Notably, stablecoins have grown to become one of the top 20 holders of U.S. Treasury securities, with a Coinbase report showing marked growth in Q3, 2024. Major players include Tether’s USDT and Circle’s USDC.
Additionally, infrastructure improvements and the increasing intersection of blockchain technology and artificial intelligence have further bolstered the industry’s growth.
DeFi continues to grow
DeFi has been one of the areas of crypto that saw the most usage across daily active addresses in the past year.
“Since DeFi’s arrival in the summer of 2020, decentralized exchanges, or DEXs, have grown to account for 10% of spot crypto trading activity — all of which occurred on centralized exchanges just four years ago,” the reports reads.
DeFi protocols across the ecosystem now account for over $169 billion in total value locked. Top platforms include Lido, Aave, Uniswap, EigenLayer, WBTC, and ether.fi. These decentralized platforms continue to attract users as traditional financial institutions, such as U.S. banks, face ongoing challenges.
According to a16z, top blockchains in terms of builder activity or interest include Ethereum (ETH), Solana and Bitcoin.
While Ethereum still attracts the most developer activity, with 20.8% of builders, Solana has seen significant growth in this sector, increasing from 5.1% in 2023 to 11.2% in 2024.
Base also recorded a notable jump in developer activity, rising from 7.8% to 10.7% year-over-year. Bitcoin, which has registered a surge in DeFi-related activity, saw an increase in builder interest from 2.6% to 4.2%.
Source link
You may like
Most Layer 2 solutions are still struggling with scalability
Here’s why Stellar Price Could Go Parabolic Soon
Perp-Focused HyperLiquid Experiences Record $60M in USDC Net Outflows
Experts say these 3 altcoins will rally 3,000% soon, and XRP isn’t one of them
Robert Kiyosaki Hints At Economic Depression Ahead, What It Means For BTC?
BNB Steadies Above Support: Will Bullish Momentum Return?
24/7 Cryptocurrency News
Will a16z Crypto Policy Lead Brian Quintenz be the new US CFTC Chair?
Published
2 weeks agoon
December 12, 2024By
adminAs the Donald Trump administration looks to appoint the US Commodity Futures Trading Commission (CFTC) chairman, a16z Crypto policy lead Brian Quintenz emerged as the top contender. According to sources familiar with the matter, the Trump team has recently interviewed Quintenz for the top job at US CFTC.
Brian Quintenz Is the Top Choice for US CFTC Chair
As per a Bloomberg report, former Republican CFTC Commissioner Brian Quintenz was interviewed for the top position in the regulatory body. He is currently leading the crypto policy division at the digital asset wing of VC giant Andreessen Horowitz, a16z Crypto.
President-elect Donald Trump’s team has been actively conducting interviews for the US CFTC chair position, with an announcement likely in the coming days. Republican CFTC Commissioners Summer Mersinger and Caroline Pham have also been in the race for the same. Last month, reports suggested that Crypto Dad Chris Giancarlo could be the top boss at CFTC, however, he dispelled the rumors.
If chosen to lead CFTC, Brian Quintenz could bring a new perspective that bridges traditional finance (TradFi) and digital assets. During his previous tenure as CFTC Commissioner under the Donald Trump administration, Quintenz advocated for the agency to embrace innovative financial services, that included crypto derivatives and event contracts. In a crypto blog last month, co-authored with a16z, Quintenz shared his perspective on the election’s implications for the future of crypto. He wrote:
“While we’ll likely have greater flexibility to experiment, we can’t forget that the fundamental regulatory principles applicable to blockchain systems remain unchanged. There will still be valid scrutiny from regulators and policymakers of certain aspects of the industry irrespective of progress on new legislation or a re-calibrated regulatory environment”.
Since joining venture capital firm Andreessen Horowitz (a16z), Quintenz has continued championing progressive regulatory approaches for these industries. Quintenz’s extensive experience positions him to navigate the agency through significant policy changes under the Biden administration.
Furthermore, recent reports suggest that the Donald Trump administration is considering giving US CFTC the oversight of the $3 trillion crypto market. The proposal focuses on digital assets like Bitcoin and Ethereum, classified as commodities under current law. If implemented, it would grant the CFTC authority to oversee spot markets and exchanges.
US Crypto Policy to Undergo Key Changes
Crypto market analysts hope for a major US crypto policy shift under the Trump administration, with Brian Quintenz as CFTC Chair expected to play a key role. The appointment of pro-crypto Paul Atkins as the next US SEC chair already hints at this possibility and a conducive environment for crypto innovation.
The crypto industry has been demanding clarity on crypto policy from the US Congress and regulators on which products and services fall under the jurisdiction of the US CFTC or the US SEC. During his election campaign, Donald Trump pledged to make America the Crypto Capital of the world.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
a16z
A16z, OpenSea partner with Stand With Crypto to create NFT legal fund
Published
3 months agoon
September 14, 2024By
adminAndreessen Horowitz’s a16z Crypto fund has partnered with Stand With Crypto and OpenSea to create the Creator Legal Defense Fund.
According to releases from OpenSea and a16z, this initiative is designed to provide legal support and consultation to artists and creators using blockchain technology, particularly those working with NFTs.
A6z has pledged $1 million to the defense fund, joining OpenSea, which committed $5 million.
NFTs have empowered artists to directly monetize their work, maintain authenticity, and earn royalties through smart contracts.
Legal challenges and assistance
Recent legal challenges, including a Wells Notice issued to OpenSea by the United States Securities and Exchange Commission, have raised concerns within the NFT community.
The growing regulatory pressure on blockchain-based creators has made legal assistance a priority.
The fund will offer creators legal assistance from firms such as Cooley LLP, Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP.
These services will help artists ensure their projects are legally compliant and provide defense against potential government actions, according to a16z.
Miles Jennings, General Counsel and Head of Decentralization at a16z, wrote that “the fear of potential legal repercussions should not hold back well-meaning artists” from exploring new initiatives like NFTs.
Source link
Most Layer 2 solutions are still struggling with scalability
Here’s why Stellar Price Could Go Parabolic Soon
Perp-Focused HyperLiquid Experiences Record $60M in USDC Net Outflows
Experts say these 3 altcoins will rally 3,000% soon, and XRP isn’t one of them
Robert Kiyosaki Hints At Economic Depression Ahead, What It Means For BTC?
BNB Steadies Above Support: Will Bullish Momentum Return?
Metaplanet makes largest Bitcoin bet, acquires nearly 620 BTC
Tron’s Justin Sun Offloads 50% ETH Holdings, Ethereum Price Crash Imminent?
Investors bet on this $0.0013 token destined to leave Cardano and Shiba Inu behind
End of Altcoin Season? Glassnode Co-Founders Warn Alts in Danger of Lagging Behind After Last Week’s Correction
Can Pi Network Price Triple Before 2024 Ends?
XRP’s $5, $10 goals are trending, but this altcoin with 7,400% potential takes the spotlight
CryptoQuant Hails Binance Reserve Amid High Leverage Trading
Trump Picks Bo Hines to Lead Presidential Crypto Council
The introduction of Hydra could see Cardano surpass Ethereum with 100,000 TPS
182267361726451435
Why Did Trump Change His Mind on Bitcoin?
Top Crypto News Headlines of The Week
New U.S. president must bring clarity to crypto regulation, analyst says
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin Open-Source Development Takes The Stage In Nashville
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Washington financial watchdog warns of scam involving fake crypto ‘professors’
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
NoOnes Bitcoin Philosophy: Everyone Eats
Trending
- 3 months ago
182267361726451435
- Donald Trump5 months ago
Why Did Trump Change His Mind on Bitcoin?
- 24/7 Cryptocurrency News4 months ago
Top Crypto News Headlines of The Week
- News4 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Price analysis4 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Opinion5 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin5 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Bitcoin5 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
✓ Share: