Number of devs increased during crypto winter: Electric Capital report

Number of devs increased during crypto winter: Electric Capital report


The notion that bear markets are good for builders appears to be true with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices.

According to a Jan. 16 report from Electric Capital, “full-time” developers — categorized as those who contribute to 76% of Github commits — also increased 15.2% to over 7000, while “one-time” builders fell 6.2% to over 3,500 during the same time period between December 2021 and December 2022

Despite the crypto market capitalization beginning its long plunge from from its all-time high (ATH) of $2.9 trillion in Nov. 2021, monthly developer activity only began to fall in Jun. 2022 after the metric reached its record high

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