Daily Active User Surge
According to Jamie Coutts, chief crypto analyst at Real Vision, a key metric is signaling a positive outlook for cryptocurrencies. The daily active user (DAU) count for a group of 22 blockchains has surged by 132.8% in the past six months and 117.4% in the past three months.
Layer-1 Blockchain Growth
SUI, a decentralized layer-1 blockchain, has experienced the most significant DAU growth, with a 1,957.4% increase over the past six months and a 3,503.4% increase over the past three months. Ethereum’s layer-2 scaling solution, Mantle, has also seen a substantial DAU increase of 231.3% over the past six months and 518.1% over the past three months.
Market Correlation
Despite a recent decline in low-cap altcoins, Coutts notes that the DAU metric is currently bullish for crypto. Historically, the market capitalization of layer-1 blockchains tends to rise as daily active users increase.
Future Outlook
Coutts predicts that the current trajectory could lead to 20 million crypto DAUs by the end of the year and approximately 200 million monthly active users. He believes this indicates a bullish outlook for the crypto market.
