A16Z'S STATE OF CRYPTO

Summary from the TLDR Crypto newsletter

In its annual report, a16z Crypto found that crypto activity and usage are at all-time highs, with over 220 million monthly active addresses. Stablecoins are the clearest example of product-market fit with $8.2 trillion in transaction volume in Q2, doubling Visa's volume. Scaling costs have dropped by over 99%, and the crypto x AI narrative has legitimate use cases. NFTs are less speculative and have become social experiences.