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Developers continue to dive into the crypto space as market remains lackluster

 |  August 4, 2023

By: Jacquelyn Melinek (Tech Crunch)

The crypto world is shaky right now. Fewer checks are being written, and regulatory pressure in the U.S. as well as economic uncertainty globally are casting a shadow on the sector as a whole. But the developer space is showing signs of promise.

According to Alchemy’s latest Web3 Development Report, web3 developer activity continued to grow in the second quarter, both year on year and quarter on quarter. Ethereum and crypto wallet software developer kits (SDKs) saw 26.8 million and 11.1 million installations in the second quarter, respectively.

The market is seeing some signs of recovery: Ethereum’s price has increased 53.7%, to about $1,850, since the beginning of the year, potentially sparking greater interest…