Deployed ETH smart contracts surge 453% in Q4 2022

Hull Invest

According to recent data, the number of smart contracts deployed on the Ethereum (ETH) mainnet surged by 453% in the fourth quarter of 2022, a calculated year-over-year growth rate of 293%. report From alchemy.

This report monitors developer activity on Web3, using libraries (developer tools that are easy to read and apply), smart contracts, and dApps as key metrics.

Acknowledging the negative effects of the bear market, the report cites that crypto assets held on exchanges fell by 45% in the fourth quarter of 2022. Nevertheless, the number of deployed smart contracts increased to 4.6 million, marking 453%. growth.

Mainnet developer activity since Q1 2020
Mainnet developer activity since Q1 2020

The current level of deployed smart contracts is the highest since Q2 2021. This number jumped from 826,900 recorded in Q2 2022 to 4.6 million.

Additionally, testnet deployments hit a record high of 2.7 million, reflecting an 187% increase. SDK installs and bridge users also grew 16% and 43% quarter-over-quarter, reaching 1.8 million weekly and 443,000 unique users, respectively.

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