Blockchain Economy on Ethereum Market Research Centerhttps://ethmrc.com/tags/blockchain-economy/Recent content in Blockchain Economy on Ethereum Market Research CenterHugoen-usMon, 15 Sep 2025 08:30:33 +0000Where Is The Capital in Crypto? A Look at App Capital, a Durable Metric of Blockchain Adoptionhttps://ethmrc.com/where-is-the-capital-in-crypto-a-look-at-app-capital-a-durable-metric-of-blockchain-adoption/Mon, 15 Sep 2025 08:30:33 +0000https://ethmrc.com/where-is-the-capital-in-crypto-a-look-at-app-capital-a-durable-metric-of-blockchain-adoption/<h2 id="defining-app-capital"><strong>Defining App Capital</strong></h2> <p>App Capital can be thought of as the economic mass of a blockchain’s application layer. It measures the sum of all circulating market capitalizations of tokens built on a chain, explicitly excluding the chain’s native token. This distinction is critical: by removing the reflexivity of native token valuations, App Capital provides a purer lens into how much real user capital is entrusted to applications on that chain.</p>