Users

Growing the Jibrel community

Most crypto-followers tend to overestimate the size of the crypto-community, and as a result, underestimate the amount of work required for full mainstream adoption. When one also considers that the bulk of users transact on exchanges and don’t use wallets, the low numbers speak for themselves.

Daily Active Users by Exchange

Source: Blockchain Transparency Institute — Dec. ‘18

In addition, it’s estimated that ~65% of users transact on exchanges, and leave their coins on exchanges, as opposed to ~35% who use wallets to store their cryptocurrencies. This is further broken down into users who prefer hard-wallets (e.g. Ledger who have sold over 1MN units of the Nano S) vs. soft wallets (e.g. Jwallet).

Furthermore, while unique Ethereum address creation is still on the rise, a significant portion of these are contract addresses. In addition, users often use multiple addresses. This is especially true for users who use a single mnemonic but many addresses, a feature available in numerous wallets including the Jwallet.

Unique Ethereum Address Growth (Sep ’15 to Jan’19)

Source: Etherscan.io

The numbers for daily active Ethereum addresses are even more somber with only ~1MN Median active Ethereum addresses, including exchange addresses as well as contract addresses.

Median Daily Active Ethereum Address Growth (Log Scale)

Source: Coinmetrics.io

With these numbers, it becomes clear that numerous crypto-startups are needlessly spending on marketing to acquire market share in a market that is extremely thin.

Furthermore, given crypto-startups are well capitalized, this has inflated the cost of marketing significantly, with numerous outlets charging tens of thousands of dollars for basic exposure.

Jibrel’s philosophy of “build first, market later” has been effective, as the company and token are still visible to the market, while cash management has been conservative and strict.

That being said, later is right around the corner. Jibrel will need to significantly improve its marketing efforts to position itself well in advance of the next adoption run, which is likely to be driven by B2B users starting to experiment with public blockchains.