Cryptocurrency The retreat in prices and the bankruptcies caused the development processes of many projects to be disrupted.
In particular, we see that the projects that emerged to take advantage of the hype in the bull market and to speculate do not have a developer activity in the bear markets.
At this point, expectations for projects whose developer activity continues and increasing despite the bear market are also increasing.
The Binance research team then drew attention to this issue in its sharing.
Analysts, who examined the development activities of the projects, shared the following results:
“Crypto prices have been in a downtrend for the past year. What about developer indicators?
Active developer data fell sharply after 3AC’s bankruptcy in June. However, we see that it remained flat and stable as of July. Despite recent market events, this metric has held strong.
To be more optimistic, we saw a significant increase in developer activity on some projects compared to 6 months ago.
Looking closer, we see some interesting dynamics. While the price of some projects is falling, developer activity is increasing. This seems to contradict the “follow popular projects that continue to develop” narrative.
Macroeconomic risks cannot be controlled.
However, when prices are falling and the market is boring, innovation in this area is really accelerating in some ecosystems and continues to increase.”
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