The Cosmos ecosystem is on the road to recovery this month, as the commits decreased by 19.38%, an improvement from the previous 26%.

According to CryptoMetheus data, developer activity in Cosmos has declined over the past three months. In the core, comprising 6 projects, these numbers dropped by 8.3% over the month. Meanwhile, in the larger ecosystem with 166 projects, the decrease was 3.91%.

However, activity has started to recover a bit this month. In the Cosmos core, this number increased by 1.6%. However, the ecosystem continued to decline by 5.44%. 

Change in commits in the Cosmos core over the year. Source: CryptoMetheus

It is worth noting that the Cosmos core is doing better than the Cosmos ecosystem. For the month, commits increased by 8.7% compared to a decrease of 19.38%. 

Impact of decreasing developer activity on Cosmos ecosystem

Developer activity can be one factor that indicates that a project is doing well. 

Moreover, when considering commit statistics, it’s essential to draw comparisons cautiously, similar to evaluating wash trading in the context of transaction volumes. 

Commits indicate the number of changes developers have made to GitHub repositories, but they might not directly reflect the overall development effort or the significance of the changes.

As of current rankings, Cosmos holds the 13th position in terms of developer activity. Cardano leads the chart, followed by Internet Computer in second place and Ethereum in third.

The overall picture of developer activity looks like this, with most projects declining in recent months. For example, the leader of the list is Cardano. In the ecosystem, commits have decreased by 12.33% and developer activity by 1.32%. 

The Cosmos and its projects

The Cosmos ecosystem includes various tokenized projects, with the primary one being the native coin of the ATOM project itself.

ATOM ranks first in the ecosystem by market capitalization and 26th overall. Celestia (TIA) is second in the ecosystem, and Injective (INJ) is third. They can be called some of the most popular Cosmos projects. 

Ranking of Cosmos projects by market capitalization. Source: CoinGecko

Celestia was launched in October 2023. During this time, the value of TIA has increased by 766%, according to CoinMarketCap data. 

TIA  price change since October 2023. Source: CoinMarketCap

The Injective token started trading earlier, in 2020. Within a year, its value increased by 806%. 

INJ price change for 2023. Source: CoinMarketCap

TIA and INJ somewhat overshadow the native Cosmos token. ATOM’s trading volume declined by 32% over the month, but the three-month period indicates an overall increase of 91%.

Interestingly, ATOM’s revenue is rising, showing a 41% increase for the month and a substantial 243% growth over the three months.

Change in trading volume and revenue for ATAM. Source: Token Terminal