PANews reported on October 6 that the number of active open source developers in the crypto space has reached its lowest point since 2020, according to data from Web3 venture capital firms a16z and Electric Capital. a16z's Crypto State Index shows that crypto coders have dropped by nearly half from last year's peak, from 36,500 in January 2022 to 19,630 in September 2023. The last time developers were below this level was at the start of the crypto bull run in December 2020, when there were about 18,100 developers.