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Dapps are digital applications that run on a P2P network of computers rather than a single server, typically utilizing smart contracts to ensure transparency and uptime. In 2026, Dapps have achieved mass-market appeal through Account Abstraction, allowing for a "Web2-like" user experience with the security of Web3. This tag covers the entire ecosystem of decentralized software—from social media and productivity tools to governance platforms and identity management.

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Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Which One Of These Is Tipped As The Best Crypto To Buy Now For 30x Growth; Solana, Cardano Or Layer Brett

Which One Of These Is Tipped As The Best Crypto To Buy Now For 30x Growth; Solana, Cardano Or Layer Brett

The post Which One Of These Is Tipped As The Best Crypto To Buy Now For 30x Growth; Solana, Cardano Or Layer Brett appeared first on Coinpedia Fintech News Traders searching for the best crypto to buy now often weigh established names against emerging projects. Solana and Cardano have proven themselves in the market, but both are already large-cap giants. For those chasing 30x returns, that might not be realistic. Enter Layer Brett, a meme-fuelled Ethereum Layer 2 that’s starting to turn heads. Solana …

Author: CoinPedia

2025/09/17

Why Bitcoin Hyper’s L2 Solution Could Power $BTC’s Next Big Rally

Why Bitcoin Hyper’s L2 Solution Could Power $BTC’s Next Big Rally

Many industry experts and analysts predict $BTC to touch $1M by 2030. Given that it has generated around 188M% returns since 2010 and governments across the world are embracing digital assets, the prediction doesn’t seem far-fetched. But here is the problem: does the Bitcoin blockchain have what it takes to back its growing popularity, at […]

Author: Bitcoinist

2025/09/17

Revolutionary Crypto ETPs: 21Shares Unveils Groundbreaking AI and Solana Investments

Revolutionary Crypto ETPs: 21Shares Unveils Groundbreaking AI and Solana Investments

BitcoinWorld Revolutionary Crypto ETPs: 21Shares Unveils Groundbreaking AI and Solana Investments The world of digital assets is constantly evolving, and a major player, 21Shares, is once again pushing the boundaries. They’ve just unveiled two groundbreaking crypto ETPs designed to give investors unique exposure to cutting-edge technologies: artificial intelligence and the Solana ecosystem. This move signifies a growing maturity in the market, offering regulated pathways into some of the most exciting areas of decentralized innovation. What Are These New Crypto ETPs and Why Do They Matter? Exchange-Traded Products (ETPs) are financial instruments that track the price of an underlying asset, like a cryptocurrency or a basket of assets. For many investors, crypto ETPs offer a familiar and regulated way to gain exposure to digital currencies without directly owning or securing the underlying assets themselves. This launch by 21Shares is particularly significant because it targets two distinct yet highly promising sectors within the crypto space. AFET: This ETP focuses on decentralized AI protocols. It aims to capture the growth of projects that are building AI applications on blockchain technology, offering a new frontier for investment. ARAY: This product dives into the Solana ecosystem, specifically investing in tokens traded on Raydium, a leading decentralized exchange (DEX) built on Solana. Unlocking Decentralized AI: The AFET Crypto ETP Artificial intelligence is already transforming industries, and its integration with blockchain technology promises even more revolutionary changes. The AFET crypto ETP is designed to track the performance of various decentralized AI protocols. These protocols are working to democratize AI, making it more transparent, censorship-resistant, and accessible. Investors keen on the intersection of AI and blockchain now have a streamlined way to participate. AFET is set to begin trading on prominent European exchanges, Euronext Amsterdam and Euronext Paris. This listing on regulated platforms provides a significant level of accessibility and institutional credibility for an otherwise niche and emerging market segment. Imagine investing in the future of AI through a familiar investment vehicle. This ETP could represent a pivotal shift in how traditional investors approach decentralized AI, bridging the gap between innovative technology and conventional finance. Diving into the Solana Ecosystem with the ARAY Crypto ETP Solana has rapidly emerged as a leading blockchain platform, renowned for its high throughput and low transaction costs. Its vibrant ecosystem hosts a multitude of decentralized applications (dApps), including powerful decentralized exchanges like Raydium. The ARAY crypto ETP offers a unique entry point into this dynamic environment. By investing in tokens traded on Raydium, ARAY provides exposure to the diverse projects and liquidity within the Solana network. This isn’t just about Solana itself; it’s about the innovative projects building on top of it. The ETP will be listed on the SIX Swiss Exchange, further broadening its reach to European investors. This product allows investors to gain exposure to a broad basket of assets within a high-performance blockchain ecosystem, potentially benefiting from its continued growth and development without the complexities of managing individual tokens or navigating decentralized exchanges directly. What Are the Key Benefits of Investing in These Crypto ETPs? These new crypto ETPs from 21Shares offer several compelling advantages for both seasoned crypto enthusiasts and traditional investors looking to dip their toes into the digital asset space: Regulated Access: ETPs trade on traditional stock exchanges, providing a familiar and regulated investment environment. This can offer a sense of security and compliance that direct crypto investments sometimes lack. Diversification: Instead of picking individual tokens, these ETPs offer diversified exposure to specific themes – decentralized AI or the broader Solana DEX ecosystem. This can help mitigate risks associated with single-asset investments. Ease of Investment: Investors can buy and sell ETPs through their standard brokerage accounts, simplifying the process compared to setting up crypto wallets or navigating various exchanges. Institutional Grade: Products from issuers like 21Shares often come with robust infrastructure and oversight, appealing to institutional investors and those seeking professional-grade solutions. Navigating the Landscape: Considerations for Crypto ETPs While the benefits are clear, it’s crucial for investors to understand the inherent considerations when dealing with crypto ETPs. The underlying assets, cryptocurrencies, are known for their volatility and are subject to rapid price fluctuations. Therefore, these ETPs carry similar risks. Market Volatility: The value of these ETPs will largely depend on the performance of decentralized AI protocols and the Solana ecosystem tokens. Cryptocurrency markets can be highly unpredictable. Regulatory Changes: The regulatory landscape for digital assets is still evolving. Changes in regulations could impact the value and availability of these ETPs. Technological Risks: While robust, the underlying blockchain technologies are still developing. Potential bugs, hacks, or network issues could affect performance. It’s always advisable for investors to conduct thorough due diligence and consider their risk tolerance before investing in such innovative, yet potentially volatile, financial products. The launch of AFET and ARAY by 21Shares marks an exciting progression in the digital asset investment landscape. By offering regulated, thematic crypto ETPs focused on decentralized AI and the Solana ecosystem, 21Shares is not only expanding investment opportunities but also validating the long-term potential of these emerging technologies. This development provides a more accessible and structured avenue for investors to participate in the future of finance, showcasing the continued innovation within the cryptocurrency space. Frequently Asked Questions About Crypto ETPs What is an ETP?An Exchange-Traded Product (ETP) is a type of security that tracks an underlying index, asset, or basket of assets. ETPs trade on exchanges like stocks, offering investors a way to gain exposure to markets without directly owning the underlying assets. How do 21Shares’ new ETPs differ from buying crypto directly?These ETPs provide regulated access to specific crypto themes (decentralized AI, Solana ecosystem) through traditional brokerage accounts. You don’t need to manage private keys or set up crypto wallets, simplifying the investment process compared to direct crypto purchases. Where can I trade the AFET and ARAY ETPs?AFET is scheduled to trade on Euronext Amsterdam and Paris. ARAY will be listed on the SIX Swiss Exchange, making them accessible to European investors through conventional financial platforms. Are these crypto ETPs suitable for all investors?While they offer regulated access, the underlying crypto assets are highly volatile. These ETPs are generally more suited for investors with a higher risk tolerance and those who have conducted thorough research into the specific technologies and market dynamics they track. What kind of AI protocols does the AFET ETP track?The AFET ETP tracks the performance of decentralized AI protocols. These are projects that leverage blockchain technology to create more open, transparent, and distributed artificial intelligence applications and services. Did you find this deep dive into 21Shares’ new AI and Solana-based crypto ETPs insightful? Share this article with your network and spark a conversation about the future of digital asset investing! To learn more about the latest crypto market trends, explore our article on key developments shaping the cryptocurrency industry and institutional adoption. This post Revolutionary Crypto ETPs: 21Shares Unveils Groundbreaking AI and Solana Investments first appeared on BitcoinWorld.

Author: Coinstats

2025/09/17

Sei and Pi Coin Gain Traction; BlockDAG’s Security Drives Nearly $410M Presale

Sei and Pi Coin Gain Traction; BlockDAG’s Security Drives Nearly $410M Presale

The post Sei and Pi Coin Gain Traction; BlockDAG’s Security Drives Nearly $410M Presale appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 08:00 Read how Sei unveils real-time data streams and Pi Coin rebounds on ETF buzz, while BlockDAG’s nearly $410M raise and security audits place it among the top crypto coins right now. Investor focus is shifting toward platforms showing tangible development and stability. Sei has introduced real-time data streams for over 300 assets, boosting its utility narrative, while Pi Coin has rebounded on renewed speculation linked to broader ETF momentum. These contrasting paths highlight how traders are balancing innovation and sentiment while evaluating the top crypto coins right now. Meanwhile, BlockDAG (BDAG) is winning confidence by embedding security at its core. Its $0.0013 presale has raised nearly $410 million and sold 26.2B + coins, supported by full audits from CertiK and Halborn, plus multi-sig wallets and time-delay protocols. This security-first approach is helping BlockDAG stand apart from purely momentum-driven plays. Sei (SEI) News Highlights Utility Expansion Sei has taken a major step toward becoming a real-time infrastructure hub after reporting the launch of data streams for over 300 assets. This feature brings live data feeds directly on-chain, reducing reliance on external APIs and strengthening Sei’s role in powering DeFi applications. This upgrade has improved sentiment, with developers praising its potential to support decentralized trading and risk modeling tools. If adoption accelerates, Sei could emerge as a top contender among the top crypto coins right now. However, price action has lagged the technical progress. Analysts say SEI must convert developer interest into sustained trading demand to push prices meaningfully higher. Without that follow-through, its recent momentum could stall despite the strong fundamental upgrade. Pi Coin Price Rebounds on ETF Speculation Pi Coin has seen a price rebound tied to renewed speculation around a broader memecoin-driven ETF trend. Traders are betting that Pi could benefit from…

Author: BitcoinEthereumNews

2025/09/17

Pi Coin’s ETF Buzz and Sei’s On-Chain Utility Sound Exciting; Yet BlockDAG’s Security Audits & Nearly $410M Presale Make It the Safer Bet

Pi Coin’s ETF Buzz and Sei’s On-Chain Utility Sound Exciting; Yet BlockDAG’s Security Audits & Nearly $410M Presale Make It the Safer Bet

Investor focus is shifting toward platforms showing tangible development and stability. Sei has introduced real-time data streams for over 300 […] The post Pi Coin’s ETF Buzz and Sei’s On-Chain Utility Sound Exciting; Yet BlockDAG’s Security Audits & Nearly $410M Presale Make It the Safer Bet appeared first on Coindoo.

Author: Coindoo

2025/09/17

Best crypto for instant gains? Analysts say a new coin could outpace SOL by 60x

Best crypto for instant gains? Analysts say a new coin could outpace SOL by 60x

People have long thought that Solana (SOL) is one of the quickest and most efficient blockchains on the market. Its ascent from nothing to a multi-billion-dollar ecosystem changed the lives of investors and established a standard for what altcoins may achieve. But SOL is currently widely used, so its growth potential is not as great as it was in previous years. Analysts who are looking beyond the present pricing of cryptocurrencies are starting to talk about Mutuum Finance (MUTM), a DeFi project that is now in presale, as the next initiative that might make investors up to 60X their money. People who are serious about investing in crypto are paying attention to the statistics and how they work in the real world.From Solana (SOL)’s legacy to Mutuum Finance (MUTM)’s fresh growthOne of the greatest tales in crypto is how early investors in Solana (SOL) turned modest amounts of money into huge amounts of money. But what used to be a chance for the underdog is now a fully grown ecosystem where returns of three or four digits are less possible. That is why people are starting to pay more attention to Mutuum Finance (MUTM), a project that is still in the presale stage but is already gaining the kind of enthusiasm that early SOL investors had.There are real figures behind the appeal. For example, an investor who bought in at Phase 1 of the presale when MUTM was just $0.01. At that point, a $10,000 investment got you 1,000,000 tokens. Now that we’re in Phase 6, the tokens are worth $0.035 each, which makes the bag worth $35,000. That is a 3.5x return only from the presale stage on paper. If the investor used the same allocation and multiplied it by 60, they would see $600,000 in value. Analysts say that Mutuum Finance (MUTM) is different from other ventures that are trying to get investors’ attention because of this kind of growth expectation.But what makes MUTM more than just a risky investment is that it is based on reliable financial utility. The platform will launch a decentralized stablecoin that is worth $1 and is only generated when users borrow against overcollateralized assets like ETH, SOL, or AVAX. Only qualified participants will be able to issue, which will keep things secure and accountable. Governance will dynamically control borrowing interest rates to keep the peg stable while also providing predictable borrowing circumstances. Also, arbitrage possibilities will always try to bring the $1 balance back to where it should be if the market changes.Mutuum Finance (MUTM) becomes a useful financial ecosystem thanks to its blend of lending, borrowing, and stablecoin innovation. MUTM is different from meme currencies since it adds long-term value that will keep the system active and useful over time. For anyone who keeps an eye on the crypto fear and greed index, that utility-based basis is a great defense against emotional market fluctuations.Presale momentum and credibility boostersPeople are excited about Mutuum Finance (MUTM) not just because of the idea behind it, but also because of how it will work. The presale is now in Phase 6, and tokens cost $0.035 each. More than $15.85 million has already been raised, and 40% of the whole supply has been sold. The following step, Phase 7, will raise the price to $0.040, which is a 15% rise that encourages those who act swiftly. This is the most important time for investors who want to buy at a discount. After this, the presale will go up even more, and the token will be listed on exchanges, which will open it up to other markets.Mutuum Finance (MUTM) puts money into more than just financial mechanics and presale traction. The project has already gotten good scores from CertiK: a Token Scan Score of 90.00 and a Skynet Score of 79.00. The team is starting a $50,000 bug bounty program with several levels of incentives for discovering bugs. Low-level bugs will get $200, while serious bugs will get $2,000. This is to build confidence and security. Mutuum Finance (MUTM) also plans to establish a dedicated community from the bottom up by giving away $100,000 to early backers.Mutuum Finance (MUTM) likewise has a defined plan for sustained growth. In Phase 1, the project will start the presale, marketing campaigns, and audits. In Phase 2, it will continue on to developing smart contracts, creating a front-end DApp, and setting up risk parameters. Phase 3 will provide testnet deployments and compliance activities, while Phase 4 will bring the live platform, exchange listings, and relationships with institutions. This step-by-step method will help MUTM grow on several blockchains and get long-term users.Final wordsAs experts work to make their crypto forecasts more accurate, one story is becoming clear: Solana (SOL) has already had its best years, whereas Mutuum Finance (MUTM) is only getting started. The 60x estimate isn’t just a guess; it’s a hint of a way to get huge growth. Early investors have already made a lot of money from the presale, and the platform’s architecture promises to be very useful.Mutuum Finance (MUTM) is a strong candidate for the next breakout chance for anyone who is looking at crypto pricing. Solana (SOL) has already told its tale. MUTM is just on the first few pages, and the chapter on quick profits may belong to those who act before Phase 6 ends.For more information about Mutuum Finance (MUTM) visit the links below:Website: https://www.mutuum.comLinktree: https://linktr.ee/mutuumfinanceThe post Best crypto for instant gains? Analysts say a new coin could outpace SOL by 60x appeared first on Invezz

Author: Coinstats

2025/09/17

Solana App Revenue Soars: $190M in August Signals Explosive Growth

Solana App Revenue Soars: $190M in August Signals Explosive Growth

BitcoinWorld Solana App Revenue Soars: $190M in August Signals Explosive Growth Are you keeping an eye on the crypto world? Then you’ve likely noticed the buzz around Solana. The ecosystem is truly thriving, and recent reports highlight an incredible milestone: Solana app revenue has seen an explosive surge, reaching an impressive $190 million in August. This isn’t just a small bump; it represents a staggering 126% increase year-over-year, painting a vibrant picture of growth and innovation within the Solana network. Solana App Revenue: An Unprecedented Surge The latest figures from a Step Finance report reveal a remarkable story for Solana. Applications built on the high-performance blockchain generated $190 million in revenue during August alone. This significant jump clearly demonstrates the increasing utility and adoption of the Solana platform. Such substantial year-over-year growth signals strong underlying demand and a maturing ecosystem, solidifying Solana’s position in the competitive blockchain space. This impressive revenue isn’t spread thinly across thousands of apps. Instead, a concentrated effort from a few key players is driving the majority of this success. The report indicates that the top 10 applications are responsible for over 86.5% of the total revenue, showcasing the immense power and popularity of established and innovative platforms within the Solana sphere. This concentration suggests that while the ecosystem is growing, certain applications have found strong product-market fit. What’s Driving This Remarkable Solana App Revenue Growth? Understanding the catalysts behind this impressive Solana app revenue surge is crucial for anyone interested in the blockchain’s future. Several standout applications are leading the charge, each contributing significantly to the overall financial health of the ecosystem. Let’s look at the top performers and their impact: Axiom: This platform led the pack, bringing in a substantial $49.1 million. Axiom’s focus on innovative financial products and services, often involving structured products and yield generation, has clearly resonated with users seeking advanced DeFi opportunities. Its strong performance highlights the demand for sophisticated financial tools on Solana. pump.fun: Following closely, pump.fun contributed $41 million. This platform’s unique approach to enabling quick, fair, and decentralized token launches has attracted a significant user base, especially those interested in meme coins and community-driven projects. It proves the appeal of novel social and financial experimentation on Solana. Phantom: The popular self-custody wallet for Solana users secured $22.3 million. Phantom’s essential role in facilitating secure transactions, managing digital assets, and providing a seamless gateway to dApps underscores its critical importance to the entire ecosystem. Its revenue reflects widespread user adoption and trust in its services, directly impacting overall Solana app revenue. These applications, along with others in the top ten, highlight diverse use cases, from decentralized finance (DeFi) to social applications and essential infrastructure. Their collective success underscores the versatility, robust nature, and growing user base of the Solana blockchain. Beyond the Numbers: Understanding Solana’s Ecosystem Strength The impressive revenue figures are more than just numbers; they reflect the fundamental strengths of the Solana ecosystem itself. Key benefits that attract both users and developers include: High Throughput: Solana’s ability to process thousands of transactions per second makes it ideal for high-demand applications. Low Transaction Fees: Users benefit from significantly lower costs compared to many other blockchains, enhancing affordability and accessibility. Rapidly Expanding Developer Community: A growing pool of talent building innovative solutions ensures continuous advancement and new applications. This combination fosters an environment where innovative applications can thrive and generate substantial value. The growing Solana app revenue indicates increased user engagement and a healthy economic cycle within the network. More users mean more transactions, which in turn drives revenue for applications and validators. This positive feedback loop is vital for long-term sustainability and continued expansion, signaling a vibrant and active community. Challenges and Future Outlook for Solana App Revenue While the growth is undoubtedly exciting, it’s also important to consider the broader landscape. The cryptocurrency market can be inherently volatile, and competition among layer-1 blockchains is fierce. Solana, like any other platform, faces challenges such as maintaining network stability, ensuring robust security, and the need for continuous innovation to stay ahead. However, the current trajectory, backed by strong development and user adoption, suggests a resilient foundation. Looking ahead, the future of Solana app revenue appears remarkably promising. Continued core protocol development, strategic partnerships, and a relentless focus on enhancing user experience are likely to sustain this upward trend. For users, developers, and investors, closely monitoring the performance of key applications and overall ecosystem health will provide valuable insights into Solana’s enduring potential and its capacity for future growth. In conclusion, the astounding 126% year-over-year increase in Solana app revenue to $190 million in August is a powerful testament to the network’s burgeoning strength and innovation. Led by key players like Axiom, pump.fun, and Phantom, Solana is clearly demonstrating its capability to host a vibrant and economically successful decentralized application landscape. This remarkable growth not only solidifies Solana’s position as a leading blockchain but also hints at an even brighter future for its ecosystem and its dedicated community, promising continued advancements and exciting opportunities. Frequently Asked Questions (FAQs) Q1: What is Solana app revenue? A1: Solana app revenue refers to the total income generated by applications built and operating on the Solana blockchain. This revenue typically comes from transaction fees, service charges, or other economic activities within these decentralized applications (dApps). Q2: Which applications contributed most to Solana’s revenue in August? A2: According to a Step Finance report, the top contributors to Solana’s $190 million app revenue in August were Axiom ($49.1 million), pump.fun ($41 million), and Phantom ($22.3 million). Q3: Why is Solana app revenue increasing so rapidly? A3: The rapid increase in Solana app revenue is driven by factors such as growing user adoption, the emergence of popular and innovative dApps, Solana’s high transaction throughput, and its low transaction fees, which make the ecosystem attractive for both developers and users. Q4: What does this growth mean for the Solana ecosystem? A4: This significant growth signals a healthy and maturing ecosystem. It indicates strong user engagement, robust developer activity, and a positive feedback loop where more users attract more developers, leading to more innovative applications and further revenue generation for Solana. Q5: Are there any challenges to Solana’s continued revenue growth? A5: While growth is strong, Solana faces challenges typical of the crypto space, including market volatility, intense competition from other blockchains, and the ongoing need to ensure network stability and security. Continuous innovation and development are crucial for sustained growth. If you found this insight into Solana’s impressive app revenue growth valuable, consider sharing it with your network! Help us spread the word about the exciting developments happening in the blockchain space by sharing this article on your favorite social media platforms. To learn more about the latest Solana ecosystem trends, explore our article on key developments shaping Solana’s future institutional adoption. This post Solana App Revenue Soars: $190M in August Signals Explosive Growth first appeared on BitcoinWorld.

Author: Coinstats

2025/09/17

Shiba Inu Holders Looking For The Same Returns As When SHIB Launches Turn To LBRETT

Shiba Inu Holders Looking For The Same Returns As When SHIB Launches Turn To LBRETT

Back in 2021, Shiba Inu turned tiny investments into life-changing money. The hype was wild, the community was buzzing, and the coin rocketed from obscurity to headlines. But times have changed. The chances of Shiba Inu repeating that kind of explosive rally are slim, and many holders know it. That’s why attention is drifting toward [...] The post Shiba Inu Holders Looking For The Same Returns As When SHIB Launches Turn To LBRETT appeared first on Blockonomi.

Author: Blockonomi

2025/09/17

SlowMist: Attackers use NPM poisoning to inject malicious SVG and trick DApp users into signing through XSS pop-ups to steal coins

SlowMist: Attackers use NPM poisoning to inject malicious SVG and trick DApp users into signing through XSS pop-ups to steal coins

PANews reported on September 17 that SlowMist Technology's Chief Information Security Officer 23pds posted on the X platform that attackers recently poisoned the NPM supply chain, replacing the SVG referenced by decentralized platforms with embedded malicious script files. They used SVG's XSS pop-up windows to trick DApp users into signing and stealing their assets. Attention should be paid to security.

Author: PANews

2025/09/17

a16z: What new, unique metrics do crypto projects need?

a16z: What new, unique metrics do crypto projects need?

By Maggie Hsu Compiled by: TechFlow How do you measure the success and growth of a crypto protocol or product? In Web2, marketers have a variety of strategies for measuring success. In crypto, however, marketing strategies are still being developed, particularly across Layer 1, Layer 2, and protocols. Some metrics aren't yet available, some are less relevant, and many require rethinking for blockchain-specific metrics. I’ve spoken with many growth and marketing leaders, and they all have different dashboards. This is normal because the definition of growth for an L1 or L2 is different than for a DeFi protocol, wallet, or game. Let’s explore these differences more broadly: The growth of both L1 and L2 is closely tied to the user and developer communities. We can measure success by looking at Monthly Active Addresses (MAAs) for L1 and L2, as well as the number of applications people are building on them. Growth in MAAs while not significantly increasing applications could simply indicate the presence of a few popular or less popular apps; ideally, both should grow in lockstep. In this scenario, the Chief Marketing Officer (CMO) becomes more of a marketing engine for the community, in addition to promoting the protocol itself. The fundamental growth metrics for a protocol are user numbers, transaction volume, and Total Value Locked (TVL)—the total value of assets deposited in the protocol's smart contracts—or Total Value Secured (TVS)—the total value of assets secured by the protocol. While TVL is a controversial metric, it can provide a general understanding of a protocol's growth when combined with the other metrics discussed below. One founder shared that they also calculate a "cost of capital" for "active TVL," which is the ratio between the amount of rewards they need to provide to achieve a certain amount of locked value and the resulting fees or locked value. Growth in infrastructure and other software-as-a-service (SaaS) businesses is often tied to the growth of individual products. For example, developer platform Alchemy focuses on customer and revenue growth within each product line, similar to what we see in traditional SaaS companies. More specifically, focusing on the percentage of recurring revenue retained by existing customers, or gross revenue retention rate (GRR), indicates that a product is sticky and has a stable customer base, which is crucial for measuring recurring revenue. Net revenue retention rate (NRR) also accounts for upsells and reflects the ability to increase revenue from the existing customer base. Wallet and Games growth also looks more traditional (similar to the SaaS example above), but here it focuses on measuring overall usage and revenue using the following metrics: Daily Active Addresses (DAA), the number of unique addresses active on the network each day Daily Transacting Users (DTU), which is the number of unique addresses conducting revenue-generating transactions on the network (a subset of DAAs) Average revenue per user (ARPU), the revenue generated from a user or customer during a specific period However, if a token is involved, then token price and holder distribution will be affected, but even these metrics depend on your goals. For example, do you want a large number of small token holders, or a small number of whales? This depends on the category, stage, and strategy of your product or service, and you need to choose the appropriate measurement metrics. So, how do you build a company-specific metrics dashboard? Here are some potential metrics suggestions, along with their placement in the marketing funnel to provide further insights. Ultimately, you need to decide what to measure, how to weigh the importance of each metric, and how to act on the data... Core indicators: What matters? Metrics like Customer Acquisition Cost (CAC), Customer Lifetime Value (LTV), and Average Revenue Per User (ARPU) are core to understanding the success and efficiency of your customer acquisition efforts (we’ll define these metrics below). While these concepts are widely accepted in traditional SaaS, they require some adjustments in the crypto space, as “customer” often refers to a “wallet,” and the form of value creation differs. Below, we’ll redefine these metrics and explore their unique nuances in the crypto space. Customer Acquisition Cost (CAC) Customer acquisition cost (CAC) is the total cost of acquiring a customer and can be measured in a few different ways: Broadly speaking, blended customer acquisition cost (CAC) is calculated by dividing your total customer acquisition costs by the total number of new customers. It tells you the average price you paid for each new customer across all channels—including not only acquisition costs but also organic growth costs (which can make it difficult to see which specific growth strategies are driving results). Paid CAC, on the other hand, focuses solely on customers acquired through paid marketing. Too often, teams invest in paid marketing without measuring its effectiveness. Paid CAC reflects the cost of acquiring these customers and whether a particular marketing campaign is truly effective. This is particularly important to measure in the cryptocurrency space, as we've seen early on that many teams get distracted by paid rewards and fail to understand what their product actually does. What counts as “costs”? When calculating CAC, costs may include advertising spend, sponsorships, development of marketing collateral, quest token incentives (on platforms like Galaxe, Layer3, or Coinbase Quests), and airdrops to target wallets. Who counts as a “customer”? In this context, “customer” could mean a “user” or a “developer”; for example, a brand new wallet transacting on a protocol could be considered a customer of that protocol. Lifetime Value (LTV) and Average Revenue Per User (ARPU) Lifetime Value (LTV) represents the present value of a customer's future net profits over the life of the relationship. LTV essentially measures the return a customer gets after becoming a customer, including the amount they spend on your product. LTV itself is a complex calculation and concept. In the cryptocurrency world, it doesn't always translate directly, as "users" aren't always like traditional "customers." For example, they might be anonymous wallets, or a single user might hold multiple wallets. Therefore, LTV might reflect a single wallet's contribution to the total value locked (TVL), which refers to the total USD value of assets held in the protocol's smart contracts, as we've already discussed. For DeFi protocols, TVL can provide a snapshot of the “current total assets,” while LTV can help answer “the value of a specific wallet to the protocol over its lifetime.” LTV:CAC ratio Customer lifetime value (LTV) is often used to assess the initial customer acquisition cost (CAC) and the "value" of that customer over time. The LTV:CAC ratio provides insight into the cost-effectiveness of acquiring new customers by comparing the value they bring to the table with the cost of acquiring them. For traditional SaaS products, a 3:1 ratio is considered reasonable because it means that the value you create from a customer is three times the cost of acquiring the customer, and the remaining profit can be reinvested in growth. In the cryptocurrency space, we have not yet established such a benchmark. In the cryptocurrency space, other acquisition incentives, such as airdrops or points, also need to be considered when evaluating LTV:CAC ratios, as they can be misleading. Ideally, these incentives help attract users to the product and help them get started, but when users like the product enough, it can continue to grow even without the incentives—in which case CAC will decrease and LTV will increase, improving the LTV:CAC ratio. Here’s a quick summary of the key metrics we outlined in the article and how they apply to our thinking in the crypto space: Taken together, these metrics provide a foundation for measuring how effectively your growth marketing efforts are engaging users at different stages of the marketing funnel, while also accounting for the cost of those efforts. Analyzing the Growth Funnel in the Crypto Field After identifying the core metrics, the next step is to map them to the marketing funnel from top to bottom. It’s important to note that while the crypto growth marketing funnel differs from the traditional Web2 funnel, the differences primarily stem from crypto-specific marketing strategies, behavioral characteristics, and unique opportunities at each stage, such as on-chain activity, token incentives, and community-driven dynamics. Next, we’ll explore each stage of the funnel, analyzing key strategies and metrics, and how they differ in crypto and Web2… Awareness/Lead Generation Whether it’s traditional channels or cryptocurrency, the first stage of the marketing funnel is to increase brand awareness. Even in the cryptocurrency field, increasing brand awareness is a prerequisite for everything that follows. At this stage, you'll also begin measuring customer acquisition cost (CAC). "Reach" (the number of unique individuals who see your content) should also be a core metric. Reach is particularly important when evaluating the success of mass marketing channels like press, media, and public relations. The challenge at this stage is distinguishing short-term spikes in attention from truly "sticky" interest: Are users simply curious, or are they genuinely interested in using the product? Beyond core acquisition metrics, the channels you use to find new users each have their own advantages, risks, and unique nuances to the crypto landscape: Key Opinion Leaders (KOLs) and Influencers Paying a random influencer or KOL with a large audience may seem like a reliable way to generate awareness, but it often fails to generate meaningful engagement, especially when the influencer has no authentic connection to the project and their audience doesn’t resonate with it. However, there's value in partnering with influencers who align with the project's philosophy and can share their excitement in a credible way. Consider "micro-influencers"—more niche, targeted voices whose audiences trust them—or even local influencers, such as experts within your team who have already established a strong personal presence. Claire Kart, CMO of Aztec, a privacy-focused L2 company, is a prime example. She not only works internally with influencers but also actively seeks out emerging influencers, connects with them organically, and brings them into the Aztec ecosystem. advertise Advertising in the crypto space faces a host of challenges. For example, due to vague and ever-changing policies regarding crypto advertising, many crypto companies are unable to run ad campaigns on traditional platforms like Google or Meta. Furthermore, the crypto community is wary of traditional advertising, as similar ad formats are sometimes exploited by scammers to direct users to malicious websites. Crypto marketers have had more success promoting specific apps on X (formerly Twitter), LinkedIn, Reddit, TikTok, or the Apple App Store. They can also consider alternatives such as Brave browser ads, Spindl ads within the Coinbase/Base app, or MiniApps and sponsored posts on Farcaster, or even optimize for prompts and incorporate them into AI search answers. Referral and affiliate marketing The concept behind referral programs is the same as traditional marketing: when someone signs up through your referral, you earn a reward. The difference in cryptocurrency is that rewards can be sent instantly and verified directly on-chain, aligning incentives and making the entire process smoother. Projects like Blackbird demonstrate how on-chain referrals can develop into compounding network effects through ongoing loyalty programs and community engagement, rather than just a one-time customer acquisition campaign. Word-of-mouth is one of the most powerful growth drivers in crypto: for consumer-facing products, adoption is often driven by referrals, where users recommend a product to other users because they enjoy the experience and find it valuable. For infrastructure projects, referrals often come from existing customers and developers. Measuring word-of-mouth growth can be done by simply tracking the Net Promoter Score (NPS) or by directly surveying new users after they sign up or complete an onboarding session to see if they were referred and by whom. In this sense, referrals are like an inverted, bottom-up marketing funnel: users don’t just stay at the conversion stage, but instead reintroduce new potential users to the top of the funnel. Early users become evangelists, bringing more people into the network (and potentially being rewarded for their contributions), thus keeping the growth flywheel spinning. A note on accuracy: Accurately measuring growth from real users/customers versus bots is a problem across industries, particularly in social media. Cryptocurrencies offer unique identity primitives, such as "proof of humanness" via World ID or zero-knowledge proofs (via zkPassport), that can distinguish real users from bots or airdrop scammers. Growth teams can leverage these primitives not only to build Sybil resistance against community growth mechanisms like airdrops, but also to better understand real users and help plan product retention. The power of the growing network Finally, one of the unique growth drivers of cryptocurrency is its token, which is often the best way to attract users, developers, and liquidity to markets that traditionally struggle to overcome cold start issues. However, this isn't just about speculation: more importantly, when a token's price rises, it can attract new users who want to participate in a particular movement or development. Developers also take notice, as a rising price signals an active community and genuine demand, making the platform more attractive. Consideration/Interest The next stage in the traditional marketing funnel is consideration, which is when a potential customer becomes actively interested in a product and is evaluating and comparing it to other products. In the cryptocurrency space, this is particularly important, as every decision—from purchasing tokens to ordering a hardware wallet—typically requires significant education, as cryptocurrency remains a relatively new (and often complex) industry for both users and developers. Providing users with the right information to help them make decisions and weigh competing products or platforms can have a huge impact. This is why companies from Coinbase to Alchemy are investing in educational content for both consumers and developers. Effective educational content goes beyond detailing a product’s features and benefits, and also covers how the product works (e.g., security, custody, community and treasury governance, token economics, etc.). Developers may need in-depth technical documentation and tutorials, while consumers often require explanatory content (e.g., before transferring real funds between wallets or blockchains). User education via email during key processes (such as product registration or purchase), in-product prompts and tooltips, interactive onboarding, and product trials or “testnet” setups to demonstrate and experience features before committing to transferring assets are all standard tools. Companies are also starting to optimize their educational content to fit large language models (LLMs) so that when someone asks a question, the company’s content can be retrieved. Successful teams measure interest not only through clicks or downloads, but also through intermediate actions users take, such as joining a wallet's waitlist or adding a small deposit to test functionality, to demonstrate trust and intent. However, understanding the success of these efforts depends on the channels chosen, as each channel has its own set of metrics. Ultimately, however, you need to map these metrics to some kind of conversion, as we'll cover below. conversion Conversion is the stage in the marketing funnel where users complete their desired behavior. At this stage, users have been attracted, engaged, and informed, ultimately taking the action you want them to take. As a metric, "conversion rate" is a broad term: in traditional marketing, it might refer to the number of customers who purchased a product, users who signed up for a demo, or people who requested to speak with a sales team. In crypto, conversions can also include wallet downloads, token purchases, or even code deployments on a platform. The specifics of what constitutes a conversion depend on your product and goals, but accurately defining conversion metrics is crucial for developing the best measurement methods. Tracking conversions across marketing channels (e.g., wallet downloads driven by offline events) is crucial. Understanding which sources drive results can help teams optimize budget allocation, messaging, and more. Accurately measuring conversions also relies on attribution mechanisms, which are particularly complex in the crypto space, especially since the user journey between traditional websites, social networks, and on-chain behavior (for example, from off-chain to on-chain behavior or vice versa) is difficult to accurately track. Web tracking tools like Google Tag Manager can track website conversions, while new tools for wallet users like Addressable can bridge the gap between off-chain advertising and on-chain behavior, allowing teams to track on-chain behavior from websites or Web2 ads. However, the user journey is often not linear; for example, a user may first see a post on X, attend an offline event, and then make their first transaction. While attribution in the crypto space has historically been difficult, improved analytical tools are enabling teams to gain a more comprehensive understanding of growth. While many people maintain multiple wallets, advancements in analytical technology are enabling the ability to match multiple wallets to a single user, allowing on-chain activity to be linked to specific users. As privacy regulations (e.g., GDPR, cookie restrictions, etc.) make Web2 attribution more difficult, the transparency of on-chain data offers advantages while also protecting user identities. Post-conversion engagement In traditional marketing funnels, the engagement/interest stage typically measures product interactions before purchase. These interactions are how users gain a better understanding of the product and brand, and are a crucial stage in converting initial interest into loyal engagement. In the crypto marketing funnel, post-conversion user engagement is equally important, encompassing both online and offline, on-chain and off-chain behavior. This not only provides insights into how to retain users, but also how to maintain the overall health of the community, regardless of where users are located. For example, online engagement (which we also cover in our social media guide) can include metrics like: Engagement on Discord or other forums/chat platforms Activity on X (formerly Twitter) Sentiment analysis on social channels User participation in governance or voting While many crypto marketers still rely on traditional social listening tools, these traditional methods need to be adapted for the crypto sector. For example, sentiment tracking can provide a directional understanding of community sentiment toward a project, but it shouldn't be the sole basis for decision-making. Sentiment tracking can help teams identify active contributors and key influencers and assess the effectiveness of messaging. However, the crypto community is fragmented across multiple platforms, and the quality and depth of metrics vary. A small number of highly active accounts can have an outsized influence, resulting in a high level of data noise. In addition to sentiment tracking tools, some teams use other social media monitoring tools (such as Fedica) to track and reward user engagement. For example, they can identify contributors who amplify content, create memes, participate in discussions, and generally inject energy into the community. However, it's important to note that incentivized campaigns are susceptible to manipulation: certain incentives may attract those who prioritize rewards over the project itself, potentially leading to short-term community activity but lack of sustainability in the long term. Crypto marketing can still achieve meaningful organic growth through unincentivized or non-paid methods. For example, this can be achieved through a strategy that interweaves different types of content. Eco, a stablecoin liquidity layer, employed an organic content strategy based on the "4-1-1 principle": publishing four educational pieces of content about its market opportunity; one piece of "soft sell" content (e.g., a third-party endorsement); and one piece of "hard sell" content (e.g., "Use our product"); and repeating this cycle every few hours for seven days. Through this organic publishing strategy alone, combined with leveraging major product announcements and co-marketing campaigns, Eco increased its total monthly impressions by nearly 600%. Offline engagement (such as attending conferences or events) also plays a key role in helping users engage through deeper connections. Traditionally, these activities have been measured by collecting email addresses to expand mailing lists (e.g., by scanning attendee QR codes). More sophisticated tools include tagging giveaways with NFC chips (e.g., through IYK) and running campaigns to encourage users to click or scan them. Online platforms (such as Discord or Towns) provide dedicated spaces for ongoing interaction and relationship building. Teams can track the number of user interactions (posts, likes, replies) over a period of time and analyze the quality and sentiment of these interactions. Retention Retention answers a key question: "Who's staying?" Retention can be measured as the percentage of users who complete an on-chain action after a set period of time, or more broadly, as a measure of ongoing user activity. Retention is calculated by dividing the number of existing users at the end of a given period by the number of users at the beginning of that period. If you're measuring mailing list subscribers or wallet downloads, retention isn't tracking initial signups, but rather users who remain active over time. Common retention metrics include returning users or daily active addresses over time. In the cryptocurrency space, retention metrics must account for the tension between "long-term" and "short-term" behavior, given the powerful token mechanics and behaviors involved. For example, a surge in airdrop users at launch might look like growth, but once the rewards cease, many will leave. This is why it's important to define your "ideal" user and measure retention relative to that group, rather than just the raw total number of users. This is also why it's important to measure product metrics—both intrinsic to the product itself and organic interest in it—so as to avoid confusing what's working with what's not, especially if your product hasn't yet achieved product-market fit. Otherwise, you might think you've found product-market fit when you haven't; that is, people's interest isn't in your product, but in the rewards. Retention naturally drives customer lifetime value (LTV) as well, as the longer users stay, the more they spend or transact. This not only increases their LTV but also leads to a more desirable LTV:CAC ratio. Churn Churn is the opposite of retention and measures how many users are lost during their lifetime and when. Churn rate is calculated by dividing the number of users who churned at the end of a time period by the total number of users at the beginning of that period and expressing it as a percentage. In crypto, an alternative metric for churn (although it doesn't map perfectly to traditional churn metrics) is the percentage of wallets that become inactive after a certain period of time. For example, users may sign up for a wallet through a marketing campaign or cycle, but then never use it again. Some of these users may re-engage at some point in the future, but the key to calculating churn is identifying active, frequently engaged, and returning users, rather than "dormant" users who have only performed a single on-chain action. Tools like Safary can monitor user interactions with decentralized applications (dApps) and help identify friction points that lead to user churn, such as high transaction fees, a complex user experience, or the need to complete multiple onboarding steps. For example, when Solana released its Seeker phone, some users requested a pre-funded wallet (similar to the earlier Saga phone) to reduce initial friction. The need to manually top up funds before making transactions could slow adoption. While Solana has transitioned to dApp rewards after users receive the phone, reducing friction in the onboarding process remains crucial. To mitigate churn, leverage funnel tracking and user cohort targeting platforms that support crypto-specific user engagement (such as Absolute Labs' Wallet Relationship Management). These tools allow teams to create custom user segments and re-engage them through Web2 channels and crypto-native strategies like targeted airdrops. Furthermore, direct messaging to wallets via secure decentralized messaging tools like XMTP can provide timely, personalized reminders to encourage users to return and continue engaging. Wallet share Another way to track churn and retention is to look at "wallet share": the proportion of total spending in a category that customers allocate to your product or service. In the crypto space, this concept can be applied very intuitively. By analyzing the composition of wallets, teams can see the types of assets held, the amount, and the direction of activity. If users stop interacting with your protocol, on-chain data can reveal whether they are switching to competitors. Of course, as protocol products and services become more complex, the reasons for user migration can become more difficult to determine. But if you observe user behavior shifting toward a competitor or another product with unique features, this can reveal important information. Similarly, if many of your token holders also hold tokens from a related project, this could present opportunities for joint marketing—for example, partnering with that project to host a joint event or giving away your tokens to its token holders. General analytics tools like Dune, a crypto data hub, enable this type of analysis, while more specialized platforms can provide deeper insights into specific tokens. Since most users have multiple wallets, it's also important to link them to a single end-user identity; on-chain analytics tools like Nansen can provide wallet tags across multiple chains, enabling more accurate wallet share analysis. Growth measurement in the crypto space isn't about simply replicating Web2 approaches. Instead, it's about adapting effective strategies, discarding ineffective ones, and building a new framework around the unique advantages of blockchain. Given the diversity of crypto products, from L1 to gaming, each team's growth dashboard will be different. But data doesn’t tell the whole story. Ultimately, quantitative metrics are only part of the story: there’s no substitute for a deep understanding of your audience and users through qualitative insights. The conversations within your community (whether they’re discussions about your project or simple memes and vibes), the energy felt at events, and even a gut feeling about what’s working and what’s not, all play an important role in guiding your growth strategy. In the early stages, the actions of a few core users may be more valuable than those of the rest. These qualitative signals are often the earliest signs of product-market fit. The best crypto growth strategies are a balance of data and intuition, combining short-term tactics to spark excitement with long-term strategies to build a stronger community.

Author: PANews

2025/09/17

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