Despite Crypto Bear Market, Web3 Developers Are Still Building, Study Shows

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Data from alchemyplatform shows a 40% increase in smart contracts deployed on Ethereum since the end of the first quarter of 2022, despite ether’s 60% plunge this year. camlearnscrypto reports

trading volume has fallen 88% from the third quarter of last year, the amount of Ethereum library installations have increased 178% in 2022.

“I think the best representation of that is the fact that software developer kits and smart contracts have more than doubled in their usage in the last year,” said Shah. “It's definitely bringing a lot more developers into the space, a lot more brands, frankly, who are conscious of the environmental impact of proof-of-work,” said Shah.

 

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