Searching for crypto’s future stars among young prospects
As an avid sports fan, I couldn’t help but draw parallels between the MLB draft and the world of cryptocurrencies. Just like teams select players based on their potential, investors in the crypto space are searching for promising projects. But how do you evaluate a crypto prospect? Developer activity seems to be a good starting point. According to Electric Capital’s developer report, there has been a decline in active developers in the crypto space, with a decrease of 18% in newcomers since January. However, some protocols have shown significant growth, such as Osmosis, Optimism, and Starknet. While their token prices may not reflect their developer activity, these protocols could present interesting investment opportunities. Ultimately, monitoring developer activity may help identify the next big player in the crypto market.
Main breakdowns:
- Decline in active developers in the crypto space
- Osmosis shows significant growth in developer activity
- Optimism experiences strong growth as a layer-2 blockchain
- Starknet attracts new developers despite its token not being available for sale
- Monitoring developer activity as a potential indicator of success
Hot Take:
While the overall trend of developer activity in the crypto space has been positive, there has been a decline in newcomers. However, protocols like Osmosis, Optimism, and Starknet have shown significant growth in developer activity, indicating their potential for success. It’s important for investors to consider developer activity as a potential indicator of a protocol’s future prospects. By monitoring the space and identifying projects with increasing developer interest, investors may find the next big player in the crypto market.
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