Fully active

How many crypto users are there, really?

It turns out that it’s quite hard to measure. An “active user” can mean all sorts of different things depending on the use case. 

Someone staking with MakerDAO for the yield is definitely an active user, for instance, but it’s murky at what point their “activeness” should be counted.

Only counting users when they deposit and withdraw would ignore the most critical activity of all: not touching the crypto once it’s in. This provides some types of crypto apps with massive user counts, while others seem relatively unused by little fault of their own.

We could use reported figures from widely popular apps as a proxy for…

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