**Crypto Developer Activity Drops 40% in a Year**

- The crypto space has seen a significant decline in developer activity, with a 38.6% drop in weekly active developers from March 2023 to March 2024, according to Artemis Terminal. This decline raises concerns about the long-term health of the Web3 ecosystem.

- The shift towards "narrative-led" developments has overshadowed meaningful onchain innovation, sparking calls for more developer-focused initiatives.

- Critics argue that the focus on memecoins and speculative ventures has diverted attention from sustainable crypto products, urging a return to foundational development.