What's Happening On-Chain? Current Trends in On-Chain Data - TOKEN2049 Singapore 2023
Explore the dynamic world of on-chain data in "What's Happening On-Chain? Current Trends in On-Chain Data," presented at TOKEN2049 Singapore 2023. This insightful session delves into the benefits of on-chain data, offering an immediate, transparent look at the cryptocurrency market's evolving landscape.
The talk revisits significant milestones such as DeFi Summer and the recent emergence of "On-Chain Summer," shedding light on current headline projects like FriendTech. Though just a month old, FriendTech has already attracted 143,000 users and generated nearly $14 million in revenue. Notably, its recent spike in trading volume stems from existing users rather than new signups, marking unique patterns in user behavior.
In addition, the presentation evaluates the performance of Base, the L2 solution supporting FriendTech, and explores its impact on the broader Ethereum L2 ecosystem. Economic aspects, such as the profitability of running L2s and recent trends in airdrops, receive special attention. Past airdrops, including Uniswap's and Optimism's, serve as case studies illustrating the challenges and lessons learned in retaining user engagement through these incentives.
The session highlights the unparalleled opportunity for cryptocurrency enthusiasts to analyze market trends, thanks to accessible on-chain data. By fostering community collaboration, on-chain data supports accelerated industry growth and knowledge sharing.
For those interested in the intricate mechanisms driving the crypto space, this talk offers a valuable perspective on utilizing extensive data for strategic insights. If you find this content informative, please like, comment, and subscribe for more engaging discussions and updates from TOKEN2049.
