Key Takeaways
- As of October 2024, the total cryptocurrency market capitalization stands at $2.41 trillion, marking a 120% year-over-year growth.
- In 2023, the global Web3 market size was valued at $3.2 billion and is projected to reach $81.5 billion by 2030, growing at a CAGR of 56.7%.
- Bitcoin's market dominance in Web3 reached 56.8% in September 2024, the highest since April 2021.
- Worldwide, there are over 562 million cryptocurrency users as of 2024, representing 6.8% of the global population.
- Active crypto wallets grew 15% YoY to 92 million in Q2 2024.
- 28% of US adults own cryptocurrency in 2024, up from 16% in 2021.
- Total daily transactions across major blockchains averaged 120 million in 2024.
- Ethereum processed 1.2 million transactions daily on average in Q3 2024.
- Bitcoin network saw 450,000 daily transactions in October 2024.
- Total DeFi TVL stands at $98.5 billion as of October 2024, with Ethereum holding 54% dominance.
- Lending protocols TVL $25.3 billion, led by Aave at $11.2B.
- DEX volume 24h $12.4 billion, Uniswap V3 $3.1B top.
- Total NFT trading volume reached $443 million in the last 7 days as of October 2024, with Ethereum leading at 35% share.
- OpenSea monthly volume $250 million in Q3 2024.
- Bored Ape Yacht Club floor price $45,000 ETH equivalent in 2024.
Web3 is rapidly expanding with massive growth in adoption and market value.
DeFi
- Total DeFi TVL stands at $98.5 billion as of October 2024, with Ethereum holding 54% dominance.
- Lending protocols TVL $25.3 billion, led by Aave at $11.2B.
- DEX volume 24h $12.4 billion, Uniswap V3 $3.1B top.
- Liquid Staking TVL $42.7 billion, Lido leads with $25B.
- Yield aggregators TVL $6.8 billion, Beefy at $1.2B.
- CDP (Collateralized Debt Position) TVL $15.4 billion on MakerDAO.
- Derivatives TVL $8.9 billion, GMX top with $1.8B.
- Restaking protocols TVL $13.2 billion, EigenLayer $12.3B.
- Bridge TVL $20.1 billion, Across top performer.
- RWA TVL $6.4 billion, Ondo Finance leads.
- Aave V3 lending volume $150 billion cumulative in 2024.
- Curve Finance stablecoin swaps $500 billion TVL peak.
- Compound lending APY averaged 5% on USDC in 2024.
- Synthetix total value issued $1.2 billion in sUSD.
- Yearn.finance vaults TVL $450 million with 20% avg yield.
- Pendle yield trading TVL $4.2 billion in 2024.
- Morpho lending optimizer TVL $2.5 billion.
- Jupiter DEX on Solana aggregator volume $100 billion cumulative.
- Frax Finance stablecoin TVL $650 million.
- Balancer weighted pools TVL $1.8 billion.
- Rocket Pool ETH staked 500,000 ETH ($1.2B).
- Instadapp DeFi management TVL $3 billion.
- Angle Protocol stablecoin TVL $200 million.
- DeFi Saver management positions 10,000+ with $500M TVL.
- Alchemix self-repaying loans TVL $150 million.
- Enzyme asset management TVL $300 million across 200 vaults.
- Set Protocol tokenized portfolios TVL $400 million.
- Barnbridge yield products TVL $100 million.
DeFi Interpretation
Investment and Funding
- Web3 VC funding reached $4.5 billion in Q3 2024 across 250 deals.
- Total crypto VC investment 2024 YTD $21.1 billion, down 20% YoY.
- Binance Labs invested in 250+ projects with $10B AUM.
- a16z crypto portfolio 200+ investments $7.6B deployed.
- Paradigm VC fund raised $2.5B for crypto in 2024.
- Pantera Capital 20x returns on early investments.
- Coinbase Ventures 300+ investments including Polygon $450M round.
- Multicoin Capital $1B fund for Solana ecosystem.
- Dragonfly Capital $650M fund III closed in 2022, active 2024.
- Electric Capital developer report: 29,000 monthly active devs.
- Grayscale Bitcoin ETF inflows $18B since Jan 2024 launch.
- BlackRock IBIT ETF $20B AUM largest crypto ETF.
- Fidelity FBTC ETF $10B inflows in first months.
- Tokenized treasuries market $1.2B via Ondo/BlackRock.
- DeFi projects raised $1.5B in Q2 2024 funding.
- Layer 2 funding $800M YTD, EigenLayer $100M round.
- AI-Web3 startups $500M funding in 2024.
- Gaming Web3 funding $2.1B across 150 deals 2024.
- RWA tokenization firms $300M raised, Centrifuge leads.
- Restaking projects $250M VC, Symbiotic $17M seed.
- Infra projects like Celestia $55M token sale.
- SocialFi funding $400M, Friend.tech clones.
- Meme coin presales $100M+ Pump.fun model.
- Public token sales $3.2B in 2024 ICO/IDO.
- Institutional custody AUM $100B via Fireblocks.
- Family offices crypto allocation 5-10% avg $50B total.
- Sovereign funds crypto exposure $2B UAE/others.
- Hedge funds crypto $15B AUM 2024 growth.
Investment and Funding Interpretation
Market Size and Growth
- As of October 2024, the total cryptocurrency market capitalization stands at $2.41 trillion, marking a 120% year-over-year growth.
- In 2023, the global Web3 market size was valued at $3.2 billion and is projected to reach $81.5 billion by 2030, growing at a CAGR of 56.7%.
- Bitcoin's market dominance in Web3 reached 56.8% in September 2024, the highest since April 2021.
- Ethereum's market cap hit $320 billion in Q3 2024, comprising 13.2% of the total crypto market.
- The stablecoin market cap grew to $162 billion by October 2024, up 25% from January 2024.
- Layer 2 solutions market cap on Ethereum exceeded $40 billion in 2024.
- Solana's ecosystem market cap reached $85 billion in mid-2024.
- The total value locked (TVL) in Web3 protocols surpassed $100 billion in 2024.
- Web3 gaming market projected to grow from $4.6 billion in 2022 to $66.7 billion by 2029 at 46.2% CAGR.
- DeFi TVL grew 150% YoY to $90 billion as of Q2 2024.
- NFT market volume in 2023 was $8.7 billion, down 70% from 2022 peak but up 10% in Q1 2024.
- Web3 wallet market expected to reach $12.5 billion by 2028 from $1.2 billion in 2023.
- Global blockchain market size was $7.18 billion in 2022, projected to $163.83 billion by 2029 at 56.3% CAGR.
- Metaverse market in Web3 valued at $61.75 billion in 2023, expected $507.8 billion by 2030.
- Web3 social media market to grow from $1.1 billion in 2023 to $93.7 billion by 2034 at 53.4% CAGR.
- Total crypto trading volume hit $109 trillion in 2023.
- Binance's market share in spot trading was 38.0% in September 2024.
- Web3 insurance market projected to reach $2.8 billion by 2028.
- RWA (Real World Assets) tokenization market cap reached $5.7 billion in 2024.
- Ordinals protocol inscribed over 50 million items on Bitcoin by Q3 2024.
- Total Web3 venture capital funding in 2023 was $10.7 billion across 1,656 deals.
- Crypto exchange reserves dropped to 2.4 million BTC in 2024, lowest since 2018.
- Web3 market projected to hit $33.53 billion by 2029 at 47.1% CAGR from 2024.
- Altcoin market cap excluding BTC and ETH reached $800 billion in Oct 2024.
- Meme coin market cap surged to $55 billion in 2024.
- AI-crypto market cap exceeded $20 billion by Q3 2024.
- Web3 storage market to grow to $11.2 billion by 2030.
- Total DePIN (Decentralized Physical Infrastructure) market cap at $25 billion in 2024.
- Restaking TVL on EigenLayer hit $12.3 billion in Sept 2024.
- Global Web3 payments market size $2.4 billion in 2023, to $18.9 billion by 2032.
Market Size and Growth Interpretation
NFTs and Web3 Assets
- Total NFT trading volume reached $443 million in the last 7 days as of October 2024, with Ethereum leading at 35% share.
- OpenSea monthly volume $250 million in Q3 2024.
- Bored Ape Yacht Club floor price $45,000 ETH equivalent in 2024.
- Pudgy Penguins collection sales $100 million lifetime.
- CryptoPunks total volume $3.2 billion all-time.
- Azuki NFT floor $15,000 with 10,000 holders.
- Ordinals Bitcoin NFTs inscribed 65 million by Oct 2024.
- Blur NFT marketplace volume $400 million weekly peak.
- Magic Eden Solana NFT volume $1.5 billion YTD 2024.
- BAYC holders 5,800 unique wallets owning 10,000 apes.
- Art Blocks generative NFT sales $500 million total.
- Doodles NFT collection traded $200 million volume.
- CloneX by RTFKT floor $20,000 with Nike integration.
- Moonbirds NFT nesting rewards 1,000+ daily active.
- World of Women (WoW) volume $150 million lifetime.
- Bitcoin Puppets Ordinals collection floor 0.15 BTC.
- Tensor Solana NFT marketplace 40% market share.
- Illuvium NFT land sales $72 million in 2022-2024.
- Parallel Alpha NFT cards 10,000 minted at $1,000 avg.
- Otherside metaverse land 200,000 parcels sold $300M+.
- Decentraland MANA land NFT transactions 50,000 monthly.
- The Sandbox LAND sales $500 million cumulative.
- Top 10 NFT collections hold 25% of total market cap $2B.
- Ronin chain NFT volume $1 billion from Axie Infinity.
- Tezos NFT blue chip like Objkt floor 10k XTZ.
- Flow blockchain NBA Top Shot packs 10 million traded.
- Immutable X zk-rollup NFT mints 2 billion gas-free.
- ApeCoin DAO treasury $1.2 billion in NFTs and tokens.
- Yuga Labs Otherside second land drop 20% premium.
- NodeMonkes Bitcoin Ordinals 10,000 supply floor 0.2 BTC.
NFTs and Web3 Assets Interpretation
Transaction and Activity
- Total daily transactions across major blockchains averaged 120 million in 2024.
- Ethereum processed 1.2 million transactions daily on average in Q3 2024.
- Bitcoin network saw 450,000 daily transactions in October 2024.
- Solana achieved 65 million transactions per day peak in April 2024.
- Total crypto on-chain transaction volume reached $15 trillion in 2023.
- BNB Chain daily transactions averaged 4 million in 2024.
- Polygon network handled 8 million daily transactions in Q2 2024.
- Stablecoin transfer volume hit $8.5 trillion in 2023.
- DEX trading volume surpassed $1 trillion in Q1 2024.
- Arbitrum daily transactions peaked at 1.5 million in 2024.
- Base chain by Coinbase processed 20 million transactions weekly in 2024.
- TRON network daily transactions exceeded 7 million consistently in 2024.
- Total NFT sales volume on Ethereum was $1.5 billion in Q1 2024.
- Gas fees on Ethereum averaged $2 per transaction post-Dencun upgrade in 2024.
- Cross-chain bridge volume reached $50 billion in 2023.
- Avalanche C-Chain daily tx count hit 500,000 in peak 2024.
- Daily active addresses on all chains summed to 20 million in Sept 2024.
- USDT transfer volume on TRON was $4 trillion annually in 2023.
- Optimism Layer 2 tx volume grew 300% YoY to 15 million weekly.
- Bitcoin Lightning Network capacity reached 5,200 BTC ($350M) in 2024.
- Total DeFi transaction count exceeded 2 billion in 2023.
- Uniswap V3 processed $500 billion cumulative volume by 2024.
- Scroll zkEVM daily tx averaged 200,000 in Q3 2024.
- Total value transferred via Chainlink oracles hit $10 trillion.
- Near Protocol daily tx 5 million with 2 million unique signers.
- zkSync Era tx volume $20 billion monthly in 2024.
- Total meme coin transactions on Pump.fun exceeded 10 million in 2024.
- Cosmos ecosystem IBC transfers 1.5 billion tokens in 2023.
- TON blockchain daily tx 7 million with Telegram mini-apps boost.
- DeFi TVL on Solana reached $5 billion with 50 million weekly tx.
Transaction and Activity Interpretation
User Adoption
- Worldwide, there are over 562 million cryptocurrency users as of 2024, representing 6.8% of the global population.
- Active crypto wallets grew 15% YoY to 92 million in Q2 2024.
- 28% of US adults own cryptocurrency in 2024, up from 16% in 2021.
- India has 93 million crypto users, the highest globally in 2024.
- Nigeria ranks #1 in Chainalysis Global Crypto Adoption Index for 2024.
- 14% of global population (1.1 billion people) now owns crypto or NFTs as of 2024.
- Daily active Ethereum addresses hit 500,000 in March 2024.
- Over 100 million people use crypto wallets monthly worldwide in 2024.
- Vietnam has 21 million crypto owners, 20% of its population in 2024.
- 52 million Americans own crypto, 22% of adults aged 18-60 in 2024.
- Brazil's crypto adoption rate is 11% of population with 24 million users.
- UK crypto ownership at 12% of adults (6.4 million) in 2024.
- Gen Z (18-27) crypto ownership at 43% globally in 2024.
- 40% of crypto users are women in 2024, up from 30% in 2021.
- Active Web3 gamers reached 5.5 million unique wallets in Q1 2024.
- Self-custodial wallets grew to 15 million monthly active users on MetaMask in 2024.
- Turkey has 12% crypto ownership rate with 10 million users.
- 67% of crypto users plan to increase holdings in 2024 per Binance survey.
- Argentina leads Latin America with 3,000% YoY transaction growth and 9% adoption.
- Philippines has 6.3 million crypto users, 5.5% of population.
- South Korea crypto users at 12 million, 23% of population in 2024.
- Daily active users on Solana reached 3.2 million in Q3 2024.
- 25% of institutional investors now hold digital assets in 2024.
- UAE crypto adoption at 12% with Dubai leading at 30% among HNWI.
- Russia has 17 million crypto users despite regulations.
- Web3 monthly active users hit 50 million across dApps in 2024.
- Indonesia crypto users grew to 18.5 million in 2024.
- 35% of millennials prefer crypto over traditional savings.
- Pakistan ranks high with 5.4% adoption rate.
User Adoption Interpretation
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