Ethereum Development Slows as Number of Core Developers Declines

According to Token Terminal, the amount of Ethereum revenue per developer has declined significantly since the start of the bull market. Despite the decline, retail investors continue to show support for Ethereum.

The number of core developers working on Ethereum has fallen in recent weeks, indicating a potential slowdown in the development of the network. However, this decline in developer activity has not deterred retail investors from showing support for Ethereum.

The number of non-zero addresses on the Ethereum network hit an all-time high of 91.1 million on December 12, indicating a strong level of participation from retail investors. Additionally, the activity on the Ethereum network has increased, with the number of transfers reaching a four-month high on December 12.

Ethereum Development Slows as Number of Core Developers DeclinesThe growing number of retail investors and increased activity on the Ethereum network has also been reflected in the growth of the number of validators on the network. Over the last 30 days, the number of validators on the Ethereum network grew by 4.96%, indicating a continued level of support from these network participants.

Despite the decline in revenue per developer and the potential slowdown in network development, Ethereum holders appear to be holding on to their tokens. Even though Ethereum prices have risen, the daily transaction volume in profit has decreased, indicating that Ethereum holders are choosing not to sell.

Furthermore, whale interest in Ethereum has grown in recent days, according to Santiment. This indicates that large investors are also choosing to hold on to their Ethereum tokens, despite the volatility in the crypto market.

Overall, the crypto community appears to be in favor of holding on to their Ethereum tokens, despite the challenges facing the network. Retail investors continue to show strong support for Ethereum, and network activity remains high. It remains to be seen how these factors will impact the future development and growth of the Ethereum network.