On-chain behavior shows several important trends due to the widespread adoption of previous Web3 and distributed tools. While most chain users are looking for trading opportunities, decentralized social media is also on the rise.
A recent study by Reown with Nansen’s data support shows that on-chain users are tackling the increasing complexity of Web3, a decentralized service. Several trends have been formed in the movements on the chain, Reform Crypto market.
In honor, Rebranding From WalletConnect, create apps and wallet SDK kits for your on-chain experience. To provide a suitable service for its customers, Reown conducted a detailed survey of the user’s habits, experience, and apps in the most demand.
The company is based on a survey of 1,038 users that were queried in February 2025, and has expanded similar queries since 2024 to track emotions over time. Nansen added transaction data to further explore sentiment and app demand.
On-chain users flock to transactions, debts and payments
During the query period, only 17% of users were newcomers in the crypto market. The largest group of users, 56%, were traders who traded Crypto in the past three months. 47% used crypto for payments, and 45% interacted with the Defi protocol.
Airdrops, gaming and social apps were also attractive, but only 17% of users who interacted with the NFT protocol in February 2025. Participants reported duplicated and several types of apps and use cases. Governance is also a relatively slow use case, with only 6% of users reporting some kind of vote through their wallets.
Most users are in the intermediate to very comfortable category, with 14% of users reporting advanced interactions with the app. In the relatively mature crypto market in 2025, experienced users and traders are returning for more opportunities.
As more Web3 projects provided incentives, some users joined for social factors, while others said they were more interested in the value of AirDrop.
Bitcoin remained the most widely held asset selected by 64% of respondents. Meme tokens show the greatest profit, with up to 37% of respondents holding some type of meme. During the same period in 2024, about 20% of users held meme tokens.
Europe is leading the creation of new wallets
Wallet usage is increasing, reflecting evolving on-chain engagement. Europe is the leader in creating new wallets, while Southeast Asia is the leader in interconnected wallets and interactions on chains.
North and South America, despite being one of the biggest crypto markets, have been lagging behind in both wallet creation and connection. The behavior of US wallet owner users remains under the strict Biden administration’s cryptographic regulations, as described in the research paper.
The fragmented ecosystems of various chains rely on the management of multiple wallets. 48% of users kept multiple wallets due to lack of interoperability, and 44% reported security as the main reason.
Mobile wallets remain the most widely used type, and there is growing demand for hardware wallets. New users tended to test more wallets of different types, while experienced traders integrated around the larger brands and chose the dominant wallets of Vinance and Coinbase.
Wallet users have used Ethereum as the payment layer and become more specialized due to defi interactions. Solana users are primarily linked to DEX, while BNB wallet owners are migrating to certain Binance services. Base users were most diverse in terms of behavior on the chain.
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