Good news! Web3 is growing and this data proves it.

In Scarface’s 1980’s Miami, the rule was:

First you get the money, then you get the power, then you get the women.

In today’s crypto space, it goes:

First you get the developers, then you get the users, then you get the money…

(Then you get raided by the S.E.C?).

Point is: when the Web3/crypto space starts to lose developers, it’s not a good sign…

And even though the saying goes ‘bear markets are for building,’ it’s often expected that both developers and users will bleed off in choppy markets.

This bear market has been particularly rough – $2 trillion (with a T!) was wiped from the crypto market in 2022.

But get this:

The amount of full-time developers working in crypto actually increased, 15.2% (to a total of 7,000), in 2022.

Want a graph? Here’s a graph!