The latest data provided by Santiment, a prominent crypto analytical platform, reveals that developer activity has slowed down across major blockchains over the past month. Developer activity is measured in terms of code contributions and developers’ activity on blockchains.
The past month has been crucial in terms of developer activity, yet Ethereum is taking the lead and showing significant developer activity as compared to other blockchains. Along with Ethereum, BNB Chain, Polygon, Arbitrum, Cosmos, and a few others have gained significant attention from the developers and crypto community.
Ethereum Leads Despite Monthly Developer Activity Drop
Ethereum maintains its legacy and continues to dominate the space with around 82.8k development events, but shows a 10.81% drop over the past month as compared to its previous cycle. In addition to that, contributors also declined by 3.15% to 1.3k. After that, comes BNB Chain that secured the second position with 37.6k events that slowed down by 12.83% and dropped to 728 development contributors.
Other prominent blockchains i.e., Polygon, Arbitrum, and Optimism have posted sharp declines over the last thirty days, which is around 23%. While one bright blockchain project has popped up, Cosmos, which has gathered 26.5 development events. Though this figure declined by 11.76%, the prominent blockchain sees an increase of 2.37% to 389 developer activity events.
Major Blockchains See Sharp Drop in Development
Avalanche, Solana, Harmony, and Polkadot have faced significant double-digit declines in developer activity last month as contributors’ numbers also contracted. Specifically, Optimism has seen a steep decline in events by 25.37%, closely followed by Arbitrum and Polkadot declined by 24.51% and 24.46% respectively.
Crypto market analysts believe that such declines often coincide with market uncertainty or a prominent shift in focus from feature expansion to maintenance of blockchains. Still, blockchain platforms like Cosmos position themselves for resistance to the future growth cycle. In a nutshell, despite such a decline in the developers’ activity, blockchain space is still active and strong activity is expected ahead.
