a16z reports that, out of the total number of crypto owners, only a small portion perform regular on‑chain transactions.

Reported figures

According to a16z, about 716 million people own cryptocurrencies, while only 40–70 million of them make on‑chain transactions.

The firm also highlights 181 million monthly active addresses, which do not necessarily correspond to distinct human users.

Interpretation and context

The distinction between wallet addresses and individual users suggests that the apparent reach of crypto is larger than its active user base.

As a result, a16z concludes that broad, sustained consumer adoption of cryptocurrency services and payments remains an objective rather than an achieved reality.

These figures imply that growth in ownership has outpaced regular transactional engagement, leaving significant room for further user activation.