Web3 developers don’t appear to be fazed by the crypto bear market, with one Web3 platform suggesting they’re “more active than ever” — particularly on the Ethereum (
) network.
In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for development on Ethereum.
Around 36% of all smart contracts ever deployed and verified on the blockchain have been in 2022, a count of nearly 118,000 compared to the over 323,700 ever deployed, according to the report.
This is despite the price of ETH falling by nearly 66% since the start of the year and the total value locked in decentralized finance (DeFi) protocols falling around 70% year-to-date according to DappRadar.
Nonfungible token (NFT) trading volumes have also taken a beating, decreasing by 98% since late January.
Alchemy states the deployment of smart contracts increased by 40% from the first quarter of the year with consecutive all-time highs hit every month...
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