It does imply, however, that citing figures like "$1.72 billion of on-chain transaction volume in the last 24h" in the context of web3's health is misleading or false.
False? How? It’s verifiable on-chain data. Misleading? Well, it’s pretty common sense that many users will automate their transactions; that’s a big feature of an open, programmable financial infrastructure. And at the end of the day, even if we adjust the number down by two-thirds, then $600m volume in the last 24h is still a questionable definition of “dead”.
