Web3 active developers drop nearly 40% in one year
Optimism contributor Binji Pande said the industry needs to return to its basics and make the crypto space “feel futuristic” again.
Weekly active developers in the crypto space dropped by almost 40% in one year as “narrative-led” developments took over the industry.
Crypto data and analytics platform Artemis Terminal shows that on March 17, 2024, the number of active developers tagged on open-source repositories in a week was 12,380. The number dropped to around 7,600 on March 16, signaling a 38.6% drop in weekly active developers in one year.
The number of active developers working across over 1,500 ecosystems is used as an indicator of the Web3 ecosystem’s overall health. Developer activity suggests increased innovation and maintenance of protocols, which contributes to long-term sustainability.