Coinbase Institutional and Glassnode have released a joint report that focuses on trends seen this year. There were some expected data, but it was also a few fun facts that showed where cryptocurrency is growing.
Consider, for instance, the chart below from a16z.
Compare the size of January to that of other months. It’s impressive, even if it isn’t jaw-dropping. Before you ask: No, this doesn’t represent the amount of money that people spent when Trump was announced.
David Duong, from Coinbase Institutional told me the chart had been produced before TRUMP was launched. Although, according to him, Trump’s memecoin was also created before the launch of TRUMP. “was also pretty impressive [because] there are a lot of market players who had never touched crypto before who adopted crypto mainly to trade [TRUMP].”
Let’s not just focus on wallets and memecoins. Give altcoins a chance to shine.
Duong believes that Bitcoin has been selfishly hogging all the attention. However, that does not mean there’s no room for other altcoins. He believes people are looking for alternative currencies. “1000x opportunity in the space.”
Maybe that’s why we will see new players enter the field and challenge the “blue chip names” The dino coin from the beginning of the 2020s.
“When it comes to smart contract platforms or other things, I think people are content with having like ETH, SOL and SUI, but many people are kind of saying, ‘Yes, but what other platforms are out there, what could come next?’ So I think that’s still a theme now that people are playing the space again,” He clarified.
As a result, the sectors within crypto are more distinct. Duong explained that memecoins are carving their own niche and are separating themselves from the rest of the crypto world, while DeFi has started to gain traction following the change in regulatory environments.
Duong noted that the AI agents we are seeing today, who focus on the federal government, is a perfect example of how the industry has branched out. “attention economy” Inside of crypto. DEXs, on the other hand are about 20% the size of central exchanges.
“Many of the market players are trying to assess the market at the moment, so they are looking at the sectors, and they know what could be attention-grabbing or getting more revenue. But now it’s a question of … what’s going to actually garner the attention?”
Many trends to follow, little time.
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