Electric Capital conducted research that showed how the cryptocurrency market is doing, despite its current decline. There was a GitHub review that noted 250 million contributions to code.It turns out that over the past year, 23,300 developers came to the cryptocurrency sector, which is an increase of 5.4%. Although major coins dropped by 70%, the number of those actively writing code for cryptoprojects increased by 15.2%. On the other hand, those who participated only randomly saw a 5.2% decline.
Data for June 2022 shows that 26,500 people were involved in the promotion of cryptocurrency projects. This is less than in May, when the Terra crashed. Nevertheless, in 2022, 61,127 new developers registered in Web3 — this is a record number, 25.8% more than in 2021.
For Bitcoin and Ethereum, the number of developers has increased three and five times, respectively, since 2018: 946 and 5,819 people, respectively, are working on their ecosystems. Similarly, Solana, Polkadot, Cosmos and Polygon have acquired over 1,000 developers for their respective platforms. NFT development has also grown significantly by 299% since 2021, while DeFi has grown from 2,500 to 3,900 developers in the same time period.