The decline has come as ether, the token of the Ethereum blockchains, and other cryptocurrencies have plummeted from record highs little more than a year ago. ETH was recently trading at about $1,300, down 64% from the start of the year when the second largest crypto by market capitalization was still hovering near $4,000. The number of projects built on the Ethereum platform over this period has plummeted as some projects have failed and increasingly risk averse investors have deployed their money at a slower rate than during 2021’s bull market.
Source: https://www.coindesk.com/markets/2022/12/15/first-mover-asia-active-crypto-developers-decreased-nearly-60-in-2022/?utm_medium=referral&utm_source=rss&utm_campaign=headlines