In an important sign for the second-largest cryptocurrency by market cap, the Ethereum research team has reportedly increased by 2,100% in the last five years alone. Indeed, the growth marks a notable circumstance behind the potential of one of the most popular networks in crypto.
The growth that ETH has undergone since 2019 has been astounding. It sets the standard for monthly active developers, with more than 2,788 developing for the network full-time as of July 1st, according to data from the Developer Report. That is a fantastic sign for its continued growth prospects for the next several years.
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Ethereum Researchers have Skyrocketed Since 2019
Like the overall crypto market, Ethereum struggled in August. The token is down more than 24% in the last 30 days, according to CoinMarketCap. Moreover, its nearly 9% drop in the last week has ETH below the $2,500 mark. Although many are concerned about the present bear market, it is important to maintain perspective.
That includes noting how far the project has come. A post to X (formerly Twitter) from Electric Capital Engineer, Emre Caliskan, notes that the Ethereum project’s research team has increased by 2,100% in the last 5 years alone.
The researchers behind the network had only totaled 25 in Q1 of 2019. In comparison, Q1 of 2024 has that future increased to 550. That figure has fluctuated some this year but undoubtedly remains strong. Promoting increased promise for the network’s health.
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It is also directly correlated to the overall growth of ETH. If you had invested $1,000 into Ether in 2019, with that 25-person research team, your funds would have equaled $14,900 in 2024. That remarkable increase is an undeniable facet of its ongoing rise to prominence.
Even despite its current position, Ethereum is up more than 46% from this time last year. It has also shown massive increases in other ways. The crypto became the second in the asset class to get ETF approval this year. That further solidifies its place alongside Bitcoin, leading the entire sector.