The Flipside Onchain Users Report, which focuses on EVM chains and tracks both growth records as well as emerging challenges to maintaining quality engagement. These are some trends that you should be aware of in 2025.
Record user growth
Newly acquired users reached a record 19.4 million in October, with Base contributing 13.7m — “almost 8x the runner-up, Polygon,”The report makes a note of this. Base and Coinbase, which have a large number of users each, are credited with this rapid growth. “trending sectors like memecoin trading and onchain AI via new initiatives like Based Agents.”
The following are some of the ways to get in touch with each other “acquired user” is defined as a user who has conducted at least two transactions in 2024.
Ethereum saw a consistent growth in users, with an average of 1.56m monthly. Arbitrum peaked in May with 3.3m acquired users, fueled by GameFi and SocialFi.
Bitcoin’s usership remained relatively stable, despite BTC hitting its historical $100k mark. It is more likely that this reflects speculation than actual onboarding.
Base and Polygon dominance
Turnside Terms “superuser” As those who have executed at least 100 transactions in a single chain.
Base was the leader with 15.1m wallets performing 100+ transactions. This is 38% more than Ethereum, which has 10.7m superusers. Polygon also recorded 1.5m superusers by 2024. This shows its power outside of DeFi. The report states that “Polygon’s superuser activity also surpassed that of every other observed chain, with 867.7m monthly super-user transactions.”
Ethereum retained its place as the DeFi Hub with more DeFi superusers than Arbitrum or Optimism.
Blast’s rapid rise and sharp decline
Blast, a newly-launched chain, made headlines in June with its record of 134.95k users acquired. The ability of Blast to motivate users is what drove this. “a wide range of gamified onchain activities.”
In Q4, the number of users dropped significantly. The report highlights Blast’s potential despite the apparent exodus from points farmers: “The remaining users are still active on multiple fronts, suggesting that the chain has the potential to outlive, and exceed, its initial hype.”
Uniswap DeFi’s dominance
Uniswap increased its presence on Ethereum, gaining 27.72% more market share compared with 2023. It is clear that this trend will continue. “a ‘winner-takes-most’ DeFi market [that] disproportionately favors larger incumbent players with deeper liquidity and brand familiarity,” The authors stated.
Meanwhile, LFJ (née Trader Joe) retained its lead on Avalanche, growing its market share by just over 6% from 2023, thanks to innovations like Auto-Pools.
Challenge
Flipside stresses the need for engagement quality, even though 2024 was a year of record-breaking user acquisition. The report states: “Behind the headlines of record user growth lies a deeper challenge: building ecosystems that create meaningful, lasting engagement, not just fleeting speculation.”
The report highlights that despite Base’s massive popularity, it is still a relatively new service. “narrow range of onchain actions its new user base is currently engaged in,” As an example, you could gamble on memecoins. Apps may not be able to direct users towards deeper activities such as DeFi.
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