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Author: Admin | 2025-04-28
The crypto industry experienced a transformative year in 2024, marked by rapid user acquisition and shifting ecosystem dynamics. A new report from Flipside highlights significant growth in user engagement, particularly on Base and Ethereum, while decentralized exchanges (DEXs) and new blockchain projects reshaped the competitive market.On-Chain Growth and Emerging Market Dynamics Base, a blockchain platform developed by Coinbase, led the market in 2024 with 13.7 million new users in October alone. This surge positioned Base as the fastest-growing chain, outpacing Ethereum’s steady average of 1.56 million new users per month. In comparison, Bitcoin’s growth lagged despite its price reaching $100,000, signaling speculative interest rather than new user onboarding. Ethereum’s consistency as a user acquisition leader supports its established position, but Base’s rapid growth demonstrates the potential for newer chains to disrupt the ecosystem. Polygon also saw engagement, leveraging non-DeFi activities to broaden its user base.Acquired Crypto Users for Legacy Chains, MoM. Source: Flipside.Base attracted 15.1 million super users—those with over 100 transactions—surpassing even Ethereum and Polygon. This milestone reflects Base’s ability to sustain active engagement, positioning it as a standout platform. Polygon, in contrast, excelled by diversifying its activities and maintaining high transaction volumes across gaming and non-financial use cases. Flipside Report Reveals How DEXs EvolveUniswap solidified its dominance in the decentralized exchange sector, capturing 91.3% of acquired user activity on Base. On Ethereum, Uniswap’s share also grew, reinforcing its position as the market leader. Trader Joe maintained its lead on Avalanche, supported by features like Auto-Pools and multi-chain capabilities.These shifts illustrate the increasing consolidation of DEX activity around major players, highlighting a maturing market. However, newer chains face the challenge of balancing innovation with user retention.Acquired Crypto Users for New Chains, MoM. Source: Flipside.New blockchain networks like Aleo demonstrated promising growth but face hurdles in sustaining user engagement. Base,
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