Close Menu
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Tech Entrepreneurship: Eliminating waste and eliminating scarcity

July 17, 2024

AI for Entrepreneurs and Small Business Owners

July 17, 2024

Young Entrepreneurs Succeed in Timor-Leste Business Plan Competition

July 17, 2024
Facebook X (Twitter) Instagram
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs
Facebook X (Twitter) Instagram Pinterest
Prosper planet pulse
  • Home
  • Privacy Policy
  • About us
    • Advertise with Us
  • AFFILIATE DISCLOSURE
  • Contact
  • DMCA Policy
  • Our Authors
  • Terms of Use
  • Shop
Prosper planet pulse
Home»Startups»5 emerging trends for crypto startups
Startups

5 emerging trends for crypto startups

prosperplanetpulse.comBy prosperplanetpulse.comJuly 11, 2024No Comments3 Mins Read0 Views
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


AllianceDAO’s accelerator program, which receives around 3,000 applications each year, has revealed some interesting developments in the crypto startup world in the first six months of 2024. This large sample size provides exclusive information on industry trends, especially regarding popular blockchains, product focus, geographic distribution, and founder profiles. Below are five key trends impacting the crypto startup landscape.

1. Dominant Chains and Layer 1 Ecosystem

Ethereum continues to be the top ecosystem for new cryptocurrency startups, with Solana showing signs of a strong comeback after hitting major roadblocks following the collapse of FTX in late 2022.

Changes in L1 over timeChanges in L1 over time
L1 Breakdown over Time (Source: qw on x.com)

Meanwhile, Bitcoin is currently receiving renewed attention due to the growing excitement surrounding Bitcoin Ordinal, Rune, and Layer 2 solutions.

2. The Rise of Ethereum Layer 2

Optimistic rollups have been gaining a lot of traction within the Ethereum Layer 2 ecosystem in recent years, and in the first six months of 2024, Base stood out as housing more than a quarter of cryptocurrency startups developing on Ethereum Layer 2.

3. Shift in product focus: from NFTs to infrastructure, DeFi, and AI

The product landscape is changing, marked by a decline in non-fungible token (NFT) projects and an increase in infrastructure, decentralized finance (DeFi), payment solutions, and AI crypto projects.

Product Breakdown for the First Half of 2024Product Breakdown for the First Half of 2024
Product Breakdown for the First Half of 2024 (Source: qw from x.com)

This shift, while not generating much excitement from the general public, signals that real-world use of DeFi and payment solutions is gaining popularity and the industry is growing.

4. Geographic Distribution of Cryptocurrency Startups

There has been a significant increase in startups originating from Asia and Africa, reaching their highest percentage ever, while the percentage of startups originating from the United States and Canada is at its lowest ever.

This shift is likely due to regulatory uncertainty in the U.S. and the growing use of cryptocurrencies in emerging markets. North America, Europe, and Asia remain the leading regions for cryptocurrency startups, with each region accounting for around 25-33% of all new projects.

5. Founder background and team dynamics

The influence of founders from Big Tech reached its highest point in 2021, but remains important as 30% of current founders have this experience. Similarly, the proportion of entrepreneurs from prestigious universities also reached its highest point in 2021. Around 10% of founders have previous entrepreneurial experience, suggesting a good balance of experience and fresh perspectives.

In terms of team structure, the majority of startups consist of 2-5 people, which is considered the ideal size for a company before its product has achieved market success. Interestingly, around 75% of startups function fully remotely, demonstrating the flexibility and adaptability of the industry.

Conclusion

Patterns seen in the first half of 2024 point to a dynamic state of the crypto startup scene. Ethereum’s growing influence, Solana’s newfound strength, the emergence of Layer 2 solutions, and the growing importance of infrastructure, DeFi, and AI highlight a sector that is rapidly developing and advancing. The future of crypto startups looks bright and promising with a growing presence in developing markets and a mix of experienced and new founders.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
prosperplanetpulse.com
  • Website

Related Posts

Startups

Cryptocurrency: Asian and African startups surpass US in market share!

July 14, 2024
Startups

Nitin Kamath’s vision to create more startup entrepreneurs in small towns in India

July 14, 2024
Startups

Small Japanese startup makes “Her” AI dating a reality

July 14, 2024
Startups

22 Indian startups secure over $116 million in funding this week

July 14, 2024
Startups

Small businesses are coming back – and it’s finally time

July 14, 2024
Startups

Scaling smart: How startups balance speed and quality in product iterations for growth – SME News

July 14, 2024
Add A Comment
Leave A Reply Cancel Reply

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Editor's Picks

The rule of law is more important than feelings about Trump | Opinion

July 15, 2024

OPINION | Biden needs to follow through on promise to help Tulsa victims

July 15, 2024

Opinion | Why China is off-limits to me now

July 15, 2024

Opinion | Fast food chains’ value menu wars benefit consumers

July 15, 2024
Latest Posts

ATLANTIC-ACM Announces 2024 U.S. Business Connectivity Service Provider Excellence Awards

July 10, 2024

Costco’s hourly workers will get a pay raise. Read the CEO memo.

July 10, 2024

Why a Rockland restaurant closed after 48 years

July 10, 2024

Stay Connected

Twitter Linkedin-in Instagram Facebook-f Youtube

Subscribe