Crypto developer activity has slowed down to levels not seen since 2018, despite the constant project launches. Activity, as measured by GitHub commits, is lower across the board, while Ethereum retains a 40% share of new code deliveries.
Crypto projects are slowing down their open-source activity. Developer activity has returned to levels not seen since 2018, based on open-source repository commits. Open-source activity peaked in August 2023, at 176K weekly commits.
The Ethereum ecosystem is responsible for around 40% of all additions, with 28.7K in weekly commits. At its peak, the Ethereum ecosystem produced 93.2K commits.
Developer activity and the number of core developers is seen as a proxy for the health of the ecosystem, and of adding real work against the price of tokens or VC funding. For some projects, activity can temporarily pick up, due to minor commits or additions.
The other reason may be that the main Web3 and DeFi infrastructure is mostly set in place, and projects are simply launching forks of the most widely used apps.
On-chain activity is also slowing down, mostly due to missing incentives. Users mostly chase liquidity and use the top apps, with demand slowing down for Web3 gaming. The end of airdrops also removes users from some projects.
Ethereum still ahead of Solana in terms of code commits
Ethereum is still ahead in terms of core developers and commits compared to Solana. The L1 chain is trying to work out scalability issues, and has always kept a broad team of developers.
The Ethereum network still has around 200 active developers, expanding in Q1, 2025.
Solana saw a constant outflow of core developers, and is down to 50 in the week of May 5.
Solana also achieves under 100 weekly commits, with a noted slowdown in the past months. Ethereum still keeps up the pace with 200 to 300 weekly commits.
Projects lag, but market remains hot for individual crypto developers
What turns out as a paradox is that while projects are lagging, individual developers held their ground in 2024. Top projects still demand Web3 developers, with Tether currently on a hiring spree.
Over 24K active monthly developers were registered in 2024, of which 18.8% were based in the USA, the leading location for new projects. In 2024, the trend also shifted to established developers, while newcomers and part-time developers were driven away as the market slowed down.
In 2024, professional developers expanded their positions, while newcomers and occasional workers moved out as the market slowed down. | Source: Developer Report
One of the reasons for the outflow of developers was the appearance of platforms that automated most of the tasks in crypto, especially token creation. Launchpads, automated listings and other infrastructure, as well as ready-made smart contracts meant fewer tasks for teams.
Meme cults also started displacing utility projects. The market also viewed some of the developer activity with skepticism, as the end products did not reflect the initial project hype. Some projects, like ICP, Cardano, and Polkadot, post highly active commit histories, but lag behind major networks in terms of active users and product-market fit.
