Web3 Developer Activity Plummets by Almost 40%, Signaling Shift in Focus

Weekly developer activity in the cryptocurrency space has declined significantly, dropping almost 40% over the past year. Data from Artemis Terminal reveals that on March 17, 2024, active developers were identified as being around 7,600. This represents a concerning drop from 12,380 individuals in early March of 2023, highlighting a noticeable shift in focus within the Web3 ecosystem. While this decline indicates a potential change in direction for innovation and development, some industry experts have pointed out the possible ramifications.