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There are often discussions about numbers of active users on DeFi protocols being relatively low, but I don’t think that’s a good measure of true value for defi.
There are very few relative numbers of traders on wall street that interact with particular trading software or FIX protocol users, but they have an outsized impact on the economy and world. I believe the true measures that matter when assessing the value of onchain economies are:
In that sense we can see that with the growth of RWAs onchain that TVL and UX are rapidly growing and improving, respectively, but it seems we've yet to see how 1) is empirically happening. Pointing to total crypto market cap I believe is flawed, and I’d be interested to see how gdp growth due to crypto and blockchains is currently measured, if at all.