Crypto Code Commits Drop Despite Rising Prices
Despite prices rising since January, developer activity has exhibited a downturn.
This may be attributed to:
• Developers switching to other booming tech sectors like AI
• Fresh VC funding declining
• Budget constraints/fatigueWhat do you think? @avichal pic.twitter.com/Aho1uO4ORa
— Miles Deutscher (@milesdeutscher) July 9, 2023
Market cycles also explain dominance between Newcomers, Emerging, & Established crypto devs.
Newcomers dominate around market peaks:
• 6 months after Jan 2018 market peak (June 2018): 70% dominance
• 7 months after Nov 2021 market ATH (June 2022): 60% dominance pic.twitter.com/o8UDvX3j14— Enrique ⚡ (@eherrerosj) July 6, 2023