Decrease of 25% in Monthly Crypto Developers for 2023
The total number of monthly active crypto developers fell 25% year-over-year in 2023, but those who have been in the space long-term showed more resilience than before, according to a new developer report by Electric Capital.
Developers with more than two years of experience in crypto are at an all-time high after reaching 51% annualized growth over the past five years, according to the report.
And developers who have been in crypto for at least one year grew 15% year-over-year and comprise 63% of all monthly active developers.
When you see devs stick around decorrelated from prices, there’s something fundamentally here that keeps them in the space.”The number of developers working in crypto has matched what Shen has experienced since entering the space in 2018.
“Newcomers are very correlated with prices,” Shen said.
