The crypto boom of 2020-2021 brought us a new era in cryptocurrency trading, basically fueled by a couple of different interesting things happening, like the Bitcoin rally, more investors coming in, and a surge in new projects and platforms, each vying for a piece of the growing market. Around 11,000 cryptocurrencies were listed during that period, but as enthusiasm waned, over 70% didn't survive. That's to say, more than 7,500 cryptocurrencies from that period have since faded into obscurity.

However, only a few have managed to maintain their relevance and continue to thrive in 2024. Let’s take a closer look at some of these enduring champions.

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Magic Eden

Magic Eden's strong start in 2021 wasn't mere luck. Right out of the gate, it signaled promise with $50,000 in opening-day volume. But that was just the first step. The platform made the rounds within the crypto market by building more than just an NFT marketplace; it has over 22 million monthly visitors, featured more than 8,000 NFTs, and nurtured a Discord community of 165,000 members—which is no small feat in the cutthroat crypto industry. This isn’t just community for community's sake. Magic Eden leveraged its crowd to innovate, expanding from Solana to Ethereum and adopting Bitcoin Ordinals.

They've simply kept pace with the crypto sphere's continued growth and change. Their adaptive nature and focus on cross-chain operability have positioned them at the forefront, as they ousted Blur in April 2024 to become the leading NFT arena in trading volume.

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WalletConnect

WalletConnect has carved out its niche as the go-to web3 communications protocol that bridges wallets and dapps, irrespective of the chain they're on. Think of it as a universal translator in the digital currency universe, facilitating a seamless conversation between apps and users. Since 2018, they've been on a growth tear, gaining trust and adoption in over 157 countries. What's their secret sauce? Smart investment strategies and a firm grip on market dynamics.

They keep their game sharp, expanding from Ethereum to embracing a mesh of chains, including Solana and Cosmos, showing they understand the fundamental essence of Web3: decentralization and interoperability. With their latest moves to empower developers, WalletConnect is now a critical piece of the Web3 infrastructure—integrated by 500+ wallets, 6,000+ applications, and powering 10 million+ connections every month.

WalletConnect's toolkit addresses users' desire for simple yet secure interactions with Web3 services. Despite some users skimping on safety, WalletConnect stays committed to tightening the bolts on Web3’s doors, upping trust, and paving the way for technological advancements in the space.

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Curve Finance

Curve Finance hit the ground running during the crypto boom with a model that smoothed out the bumps in trading digital currencies, notably stablecoins. Its hallmark has been low fees and low slippage, attracting investors who prize financial stability in the volatile DeFi space. What's kept Curve afloat where others have sunk? The answer lies in its continuous drive to create a robust DeFi infrastructure.

Curve swiftly climbed the ranks in market capitalization, peaking with an all-time high trade volume in the billions. It didn't just stick to a single chain but branched out across multiple, including Polkadot and Polygon.

The recent UwU Lend exploit tested its mettle to the core. Instead of folding, Curve dug in, focusing on financial stability and fortifying its defense—the mark of a true crypto stalwart. It didn't just survive; it's evolving and adapting to ensure community trust and remain a dominant force in DeFi. With over $2 billion in locked assets, Curve is still a heavyweight in 2024's financial markets.

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Thirdweb

Thirdweb is carving out its space in the blockchain arena by enabling developers and enterprises to create dApps with unmatched efficiency. It's no small feat that over 70,000 developers are harnessing Thirdweb's robust technological infrastructure. The platform's influence spans behemoths like Coinbase and Shopify, providing them with the most crucial element in the crypto epoch: scalability.

With $24 million secured in a 2022 Series A round and validated by the confidence of giants like Hahn Ventures and Coinbase Ventures, Thirdweb's value proposition is clear. Their foresight in product development, particularly the seamless integration of a stack rivaling any in the Web3 development sphere, shows why they're a touchstone for cryptocurrency investments.

Discovering and proactively addressing a Web3 smart contract security vulnerability without being exploited means they're super vigilant. They've even doubled bug bounty rewards from $25,000 to $50,000 and enhanced auditing processes.

Bringing seasoned Facebook executive Atif Khan on board as VP of Gaming, Thirdweb clearly signals an ambition to redefine Web3 gaming. Moves like this—strategic, bold, community-centered—give Thirdweb the staying power investors alike admire in an ever-evolving landscape.

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Polygon

Polygon's rise in the crypto space is a masterclass in strategic growth. From its rebrand in 2021, aiming to stamp its authority as the Internet's value layer, it surged ahead, building a highway for digital assets across a landscape hungry for scalability. Housing 3,000 apps by February 2021, a climb from a mere 30, it became home to major DeFi players.

Bridging the gap between accessibility and technology, integrating with giants like Starbucks, Adobe, Meta, Disney, etc., and launching Polygon Studios point to its keen eye for impactful partnerships and market expansion. The TVL's touching of $10 billion in June 2021 reflects a huge vote of confidence from the cryptocurrency market.

MATIC's price journey mirrors this expansion, and with Polygon 2.0, it has threaded the needle, blending scalability with interoperability in its network update—asserting its role in the future of smart contracts.

Stability in 2024 stems from technological advancements, strategic alliances (think Nike), and an undeniable utility in DeFi. MATIC isn't just a survivor; it's become the bustling crossroads in the crypto cosmos.

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Building for Tomorrow: The Blueprint for Sustainable Growth in Web3

Amidst the highs and lows, the brilliance and busts, what distinguishes projects like Magic Eden, WalletConnect, Curve Finance, Thirdweb, and Polygon are their forward-thinking strategies and commitment to long-term growth. But how do you build such a legacy in Web3?

Enter Myosin, the architect of sustainable success. Think of us as methodical masons, carefully laying bricks for a structure meant to outlast the ebbs and flows of market trends. With our focus on community engagement, comprehensive strategy, and full-stack marketing prowess, we help you build with durability in mind.

At Myosin, we believe the strong weave of a deeply rooted community, strategic partnerships, and continuous advancement forms the building blocks of successful Web3 projects that will remain relevant, impactful, and, most importantly, thriving. When the dust of the bull run settles and trends fade, Myosin stands alongside you, ready to help you go from a transient spike to sustained prominence.

The crypto industry is fluid, and the test of time is harsh but telling. For those projects that have slipped into the shadows, we remember them for their bold visions, even if they couldn't outrun the harsh realities of market dynamics.

Book a chat with Myosin HERE.

Let's ensure that your project stands the test of time and becomes a model for the survivors of the next boom.

Yours Truly,
Olly Jones