a16z Launches State of Crypto Index to Track Crypto Industry from Technological Perspective

a16z announced the launch of the State of Crypto Index, an interactive tool to track the health of the crypto industry from a technological, rather than financial, perspective. The index represents the weighted average monthly growth of 14 industry metrics, including the number of active developers, verified smart contracts, active addresses, and job search interest.

Meanwhile, a16z released the 2023 State of Crypto Report, which pointed out 7 key takeaways from the crypto industry in 2023. They are:

• Blockchains have more active users, and more ways to engage
• DeFi and NFT activity appear to be rising again as promising new uses and applications emerge
• The number of active developers in the crypto industry has held steady
• Blockchains are scaling through promising new paths
• New technologies, once practically impossible, are becoming very real
• The U.S. is losing its lead in Web3
• Zooming out shows progress across key indicators