Crypto Developers Number Peaked in the Crypto Winter

  • 250 million codecommits from the GitHub repositories collaborated for the report.
  • The present active crypto BUIDLers sum up to 23,343 per month.

Electric Capital released the 2022 Crypto Developers Report. The firm collaborated on the 250 million codecommits from the GitHub repositories. The codes were fingerprinted across the 9000 ecosystems and found the result of the last 14 years. A tragic year in cryptocurrency has initiated opportunities for many new BUIDLers.

Chart for Crytpo Active Developers (Source: Developer Report)

Cryptocurrency has gained over 22K monthly users in the last seven years. The present active crypto developers sum up to 23,343 per month.  At the start of crypto development from genesis bitcoin block creation to Ethereum genesis block creation, the total number of developers was only 1,164.

It took almost six years to capture 1K developers and in the proceeding six years, it captivated over 20 times more in number. The first 10 K developers joined the community during the years 2018-2019. This is significantly the golden era, where the majority of coins and tokens attainted their All Time High (ATH).

Developers and Crypto Pricing

The trembling crypto prices created speculation in the minds of traders, investors, and HODLers. But the innovators and developers took this challenging time to experiment with the blockchain and supplementing technologies.

Developers vs Network Value Chart (Source: Developer Report)

The developer’s ATH was attainted during June 2022 when the crypto market was extremely in downfall. Though we can see the major virtual assets still struggling to regain the positions they left, their development over them seems to be functioning perfectly.

Coming to major ecosystems, projects like Solana, Polygon and NEAR protocols are overpowering the market pioneers Bitcoin and Ethereum. Above mentioned platforms have an average of 500+ active monthly developers. The developers on the external ecosystems contribute 72% to the overall number.  

The conclusion to be derived from this report is that the phrases “Buy in the Dip” and “HODL in the Dip” was suppressed by the phrase “BUIDL in the Dip”.

Media person with a programming background. Ecstatic about exploring worlds in and out of books. Gains confidence by trying out new things. Dedicated to upgrading knowledge about Crypto Market.