While market fluctuations often dominate the conversation, industry insiders reveal a powerful trend: real development is accelerating during downturns. Markus Levin, co-founder of XYO, argues that this period of increased activity signifies a crucial disconnect between online sentiment and the actual progress being made by companies within the blockchain space. Despite market volatility, builders are focusing their energy on refining technology and business models, preparing for future growth. Regulation is also a major driver of innovation with more companies applying for MiCA licenses in Europe as regulatory frameworks become clearer. This momentum aligns with a growing sense of optimism among industry leaders. The number of active developers has remained steady despite market fluctuations, while the number of established developers increased significantly last year.