01-19-2023 icon

Number of Creators Surged Amid Bearish Market: Electric Capital Report

By Lucy Adegbe

The Ethereum ecosystem maintains its stance as the most predominant blockchain for all of many creators’ actions, nonetheless, a number of other blockchains have been solidifying and making progress.

So far, the theory that the bearish market periods are the ideal time for creators has appeared evident as the aggregate of functional Web3 creators, every month, has surged by 5.4% to exceed 23,300 within the past year notwithstanding the estimated 70% plunge in digital currency trade rate.

As stated in a Monday publication from Electric Capital, “full-time” creators, known to be classified as the ones that facilitate the 76% of Github pledges, also recorded a surge of 15.2% to more than 7,000 and the “one-time” creators saw a decrease by 6.2%  to more than 3,500 in the similar timing, from the last month of 2021 to that of the past year.

Notwithstanding the digital market cap commencing its prolonged decline from its highest level of an estimated 2.9 trillion dollars in the 11th month of 2021, monthly creators’ moves only started to decrease in June 2022. The decline follows the metric’s highest attained value of almost 26,500 functional creators.

So far, Ethereum has maintained its stance as the most predominant for creator’s activities with a recorded surge of full-time creators rate by 9% to 1,873, which surpasses the other three highest networks put together; Polkadot 752, Cosmos 511 and Solana 383.

Regardless, other Ethereum-independent blockchains seem to be recording significant progress with the likes of Solana and Cosmos seeing a surge of 36% and 34% categorically.