Active Blockchain Developers Diminish; Fall of Crypto Matters

• The number of active blockchain developers decreased from 3,700 to 1,600.
• The decline marks almost 60% from the beginning of this year.
• The decrease in the number of Solana developers along with the plummet in the price of major cryptocurrencies has resulted in the fall of the developers’ total strength.

Reportedly, the number of daily active developers of mainstream blockchains had a major decrease of almost 60% in 2022. While the number of active developers at the beginning of the year was 3,700, it dropped to nearly 1,600 at the year ending, as per the data by Token Terminal, a financial data platform.

The Chinese Reporter, Colin Wu, on his Twitter account Wu Blockchain, commented that the significant decline in active developers resulted from the depreciation in the number of Solana developers which diminished from 2,453 to 75, currently.

Chris Eberle, the contributor at Coordinape and PleasrDAO commented that the decline in the daily active devs is not surprising:

It’s not surprising to see an overall decline in daily active devs. 2022 has been punch after punch for crypto. The impact to the market and the overall brand of crypto is just brutal.

Notably, the SOL price has plummeted by more than 50% after the crash of the crypto exchange FTX. Stefan Rust, the CEO of Laguna labs, a blockchain wallet company told: “in the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem”.

In addition, the devastated state of the mainstream blockchain developers had also been impacted by the plummet of other cryptocurrencies such as Ethereum (ETH). As per the recent data, ETH has been trading at around $1300, showing a decline of 64% from the beginning of the year.

Also, crypto analysts state that the total number of projects created on the blockchain over this period has declined due to the impact of the increasing risks of the price fall that mattered to the community.