Climbing the Ranks - The Daily Gwei #320
Climbing the Ranks - The Daily Gwei #320
From zero to hero.
Today, the total crypto market cap stands at over $2 trillion after just 12 years of this industry existing. What started out as a tiny community of believers has turned into a global movement that promises to disrupt pretty much every industry on the planet. There are various ways to track this disruption from trading volumes to daily active users - but we can also track various ranking metrics.
Source: https://twitter.com/takenstheorem/status/1430372663223103488
As you can see in the tweet above, various crypto products/services have been making their way up the list of Alexa’s most visited websites. OpenSea in particular has had phenomenal growth over the last 90 days as its gone from rank #1557 to rank #1069 - and if you’ve been paying attention to the space it’d be quite obvious why (NFT mania, of course). Though an interesting thing to note here is that though OpenSea isn’t even in the top 100, it’s already doing more trading volume than Etsy which is ranked at #70.
Now, Alexa rankings are fun to track and all but looking at them in a vacuum won’t really tell us much. This is because it’s quite obvious that people are checking a website like OpenSea more often than Etsy because OpenSea acts as a portfolio explorer and of course people want to know how much their NFTs are worth at any given moment. This may change over time as better NFT-related tools come online but for now I would say OpenSea is the main destination for almost everyone to track their NFTs (hell, OpenSea will probably just add better tools themselves to keep users on the platform).
I also think another major reason why crypto websites tend to be ranked so highly is because they are insane retention machines. I mean, how often do we all refresh CoinGecko each day? What about portfolio tools like Zapper? How about Twitter itself? I’d actually be very curious to see how the user engagement metrics of “crypto twitter” stack up against other popular topics on twitter - I bet they’d be relatively quite high! I think I personally refresh CoinGecko and Zapper at least 20 times a day and I probably open Twitter 100 times or more a day - the only other websites that comes close to this for me is probably Gmail - I’m just hopelessly addicted to this industry.
All in all, I fully expect many crypto websites to be in the top 100 and even the top 50 much sooner than most people think. We might even see one of them crack into the top 10 one day but at that point crypto will be so ubiquitous that we won’t even be separating websites into “crypto” and “not crypto” - it’ll all just be classified as one thing like how the internet is.
Have a great day everyone,
Anthony Sassano
Enjoyed today’s piece? I send out a fresh one every week day - be sure to subscribe to receive it in your inbox!
Join the Daily Gwei Ecosystem
All information presented above is for educational purposes only and should not be taken as investment advice.