Token

Solana

Base

Rise

<p>During the first half of 2024, AllianceDAO’s accelerator program, which receives around 3,000 applications annually, has revealed intriguing developments in the crypto startup industry. This extensive sample size offers unique insights on industry patterns, especially focusing on popular blockchains, product priorities, geographic distribution, and founder backgrounds. The crypto startups environment is being impacted by five main trends.</p> 
<h2 id="strong-1-dominant-chains-and-layer-1-ecosystems-strong"><strong>1. Dominant Chains and Layer 1 Ecosystems</strong></h2> 
<p>According to <a rel="nofollow" href="https://x.com/QwQiao/status/1811023241244238163" target="_blank">AllianceDAO</a> report, Ethereum continues to be the top ecosystem for new crypto startups. <a href="https://coingape.com/price/solana">Solana</a> is displaying indications of a robust comeback after encountering major obstacles post the FTX downfall in the second part of 2022.</p> 
<figure id="attachment_206964" aria-describedby="caption-attachment-206964" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-206964" src="https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time.jpg" alt="L1 breakdown over time" width="1398" height="858" srcset="https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time.jpg 1398w, https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time-300x184.jpg 300w, https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time-1224x751.jpg 1224w, https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time-768x471.jpg 768w, https://coingape.com/wp-content/uploads/2024/07/L1-breakdown-over-time-150x92.jpg 150w" sizes="(max-width: 1398px) 100vw, 1398px">
 <figcaption id="caption-attachment-206964" class="wp-caption-text">
  L1 breakdown over time (Source qw on x.com)
 </figcaption>
</figure> 
<p>On the other hand, <a href="https://coingape.com/price/bitcoin">Bitcoin</a> is currently gaining renewed attention because of the increasing excitement surrounding <a href="https://coingape.com/bitcoin-ordinals-wallets/">Bitcoin ordinals</a>, runes, and Layer 2 solutions.</p> 
<h2 id="strong-2-the-rise-of-ethereum-layer-2s-strong"><strong>2. The Rise of Ethereum Layer 2s</strong></h2> 
<p>Optimistic rollups have gained substantial attention within the <a href="https://coingape.com/price/ethereum">Ethereum</a> Layer 2 ecosystem in recent years. During the initial six months of 2024, Base has stood out by accommodating more than a quarter of the crypto startups that are developing on Ethereum Layer 2s.</p> 
<h2 id="strong-3-shifting-product-focus-from-nfts-to-infrastructure-defi-and-ai-strong"><strong>3. Shifting Product Focus: From NFTs to Infrastructure, DeFi, and AI</strong></h2> 
<p>There is a shifting product landscape, characterized by a decrease in Non-Fungible Token (NFT) projects and an increase in infrastructure, Decentralized Finance (DeFi), payment solutions, and <a href="https://coingape.com/top-ai-crypto-tokens/">AI crypto</a> projects.</p> 
<figure id="attachment_206967" aria-describedby="caption-attachment-206967" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-206967" src="https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024.jpg" alt="Product breakdown in H1 2024" width="1412" height="850" srcset="https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024.jpg 1412w, https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024-300x181.jpg 300w, https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024-1224x737.jpg 1224w, https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024-768x462.jpg 768w, https://coingape.com/wp-content/uploads/2024/07/Product-breakdown-in-H1-2024-150x90.jpg 150w" sizes="(max-width: 1412px) 100vw, 1412px">
 <figcaption id="caption-attachment-206967" class="wp-caption-text">
  Product breakdown in H1 2024 (Source: qw on x.com)
 </figcaption>
</figure> 
<p>This change indicates the industry is growing up, with real-world uses of <a href="https://coingape.com/glossary/defi-decentralized-finance/">DeFi</a> and payment solutions becoming more popular, even though there is not much public excitement.</p> 
<h2 id="strong-4-crypto-startups-geographic-distribution-strong"><strong>4. Crypto Startups Geographic Distribution</strong></h2> 
<p>Startups originating from Asia and Africa are increasing significantly, with the highest percentage ever recorded, as opposed to those from the US and Canada, which are at their lowest point in history.</p> 
<p>Regulatory uncertainty in the US and the rising use of crypto in emerging markets are probably causing this change. North America, Europe, and Asia continue to be the leading regions for cryptocurrency startups, with each region being responsible for around 25-33% of all new projects.</p> 
<h2 id="strong-5-founder-backgrounds-and-team-dynamics-strong"><strong>5. Founder Backgrounds and Team Dynamics</strong></h2> 
<p>In 2021, the impact of founders from Big Tech backgrounds reached its highest point, but it still holds importance, as 30% of current founders possess this experience. Likewise, the percentage of entrepreneurs from prestigious universities reached its highest point in 2021. Roughly 10% of founders have prior experience in starting up companies, showing a good balance of experience and fresh perspectives.</p> 
<p>When it comes to team composition, the majority of startups are made up of 2-5 individuals, a size that is seen as ideal for companies before they have found success in the market with their product. It is interesting to note that approximately 75% of startups are functioning entirely remotely, showcasing the flexibility and adaptability of the industry.</p> 
<h2 id="strong-conclusion-strong"><strong>Conclusion</strong></h2> 
<p>The patterns seen in the first half of 2024 provide a dynamic picture of the crypto startup scene. The growing influence of Ethereum, the renewed strength of Solana, the emergence of Layer 2 solutions, and the growing significance of infrastructure, DeFi, and AI emphasize a sector that is developing and advancing quickly. The future of crypto startups appears bright and promising with an increasing presence in developing markets and a mix of seasoned and new founders.</p> 
<p>The post <a href="https://coingape.com/blog/emerging-trends-in-crypto-startups/">5 Crypto Startups Emerging Trends</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

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