On March 17, 2024, the number of weekly engaged creators in open repositories was 12,380. On March 16, 2025, the figure dropped to 7,600. The drop is 38.6%.
Developer activity is one of the key markers of the "health" of the Web3 ecosystem. It reflects the pace of innovation and the degree of support for protocols already in place, directly impacting the sustainability and growth of the industry in the long term.
Binji Pande, developer of Optimism, believes the decline in activity is due to a "lack of real value" in the blockchain ecosystem.
He explained that too much emphasis is placed on "narrative development" - projects that "say more than they do." As a result, developers lose incentives and meaningful products remain in the shadows of speculation.
"If nothing happens on the blockchain, the point of using it is lost," Pande said.
The expert added that the ecosystem should focus on developing solutions that users really need.
Developer Ben Ward noted that the market and venture capitalists have long rewarded projects that do not bring real value.
In his view, the industry's main lucrative product has been the "meme-coin casino" in DeFi.
According to Pande, the Web3 ecosystem has changed a lot, but far from for the better. He noted that cryptocurrencies need to "feel part of the future again."
