Amid a notable downturn in the digital asset markets, blockchain developer activity has continued to rise, defying concerns that the ‘crypto market is dead.’

A recent report from Santiment highlights growth in development efforts across the top ten crypto ecosystems, with increases ranging from 11% to 26% in the past month.

Increased Developer Activity

According to analysis from the blockchain analytics firm, the Harmony network recorded the highest increase in development activity, jumping by 26%, with a 4.7% rise in active contributors. Gnosis followed closely with a 25% surge, although it was the only blockchain to report a drop of 2.2% in contributors.

Avalanche and Arbitrum also experienced gains, with activity rising 23% and 20%, respectively. Despite being hit the most by the recent marketwide downturn, the Ethereum network saw a 13% jump in development events and a 1.9% rise in active contributors.

The BNB Chain ecosystem recorded a 17% increase in developer activity, while Polygon and Solana, two of the most actively used blockchain networks, saw engagement grow by 19% and 17%, respectively. Meanwhile, Cosmos had a 9% rise in efforts, with a notable 2.8% uptick in the number of contributors.

Crypto Market Downtown

These figures come against a backdrop of a declining crypto market. CoinGecko data shows that the total market capitalization has crashed by almost 10% over the past 24 hours to $2.84 trillion.

Investor sentiment has also taken a hit, with the Crypto Fear and Greed Index plunging from 49 to 10 at one point, a shift from “neutral” to “extreme fear.”

BTC is trading at $83,833 after an 8.9% decline, with its market cap falling from $1.85 trillion to $1.66 trillion. ETH has been hit even harder, tumbling 10.9% to $2,091, its lowest price in 16 months. Analysts warn the token could retreat to $1,200, revisiting bear market lows from late 2022.

Several altcoins also dipped steeply following a brief Trump-driven rally over the weekend. At the time of writing, XRP had dropped 8.5% to $2.36, SOL had fallen 14.7% to $136.4, and ADA had taken the hardest hit, plunging 15.6% to $0.804. The rally had been caused by President Donald Trump’s announcement that a proposed U.S. crypto strategic reserve could include these assets.

However, the market reacted negatively to Trump’s confirmation that new 25% tariffs on imports from Canada and Mexico will take effect Wednesday, along with plans to double tariffs on Chinese goods from 10% to 20%.

The post Santiment Reports Increased Developer Activity on Major Blockchains Amid Market Slump appeared first on CryptoPotato.

Reddit co-founder Alexis Ohanian has joined a bid to acquire TikTok’s US operations, backing an effort to decentralize the platform and give users greater control over their data.

The move, announced late Tuesday, aligns with Ohanian’s longstanding advocacy for Web3 technology and creator empowerment in digital spaces.

Ohanian confirmed he is joining billionaire Frank McCourt’s bid to acquire TikTok US, stating his intention to transition the platform on-chain.

The plan would move TikTok away from traditional centralized data control. Instead, it would run on a blockchain-based infrastructure. Users, not corporations, would dictate how their data is used.

“TikTok has been a game-changer for creators, and its future should be built by them,” Ohanian wrote in an X post.

TikTok US Buyout Plan Focuses on User Ownership and Decentralization

Reuters reported this week that McCourt described his initiative as “The People’s Bid.” He said the platform should prioritize users’ interests. It should not serve as a data goldmine for tech giants and governments.

By integrating blockchain-based self-sovereign identity and decentralized storage, TikTok would adopt a new model. This approach would allow users to own their digital presence. They would have control over their audience, content and data.

Ohanian’s role in the acquisition effort will center on validating and promoting the vision of a Web3-powered TikTok. McCourt highlighted his deep experience in social media as an asset, saying: “He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving.”

“Where he can help mostly is validating but also socializing what we’re doing,” said McCourt. “On the one hand, this is a project which has very sophisticated technology at the core. And so you’re dealing with a very specific audience when it comes to demonstrating the validity of that technology and in how it works, and why it’s necessary.”

Ohanian Champions a Decentralized TikTok Where Users Control Their Data

Ohanian has long advocated for a more equitable digital landscape. He believes users should control their data, and creators should own their audiences.

In his X post, he suggested that blockchain could reinvent social platforms. It would shift them away from corporate-driven algorithms. Instead, platforms would operate on a model built on transparency and accountability.

“Users should own their data. Creators should own their audience,” he wrote.

“Frequency will empower these principles to become reality. And with transparency and accountability at the core, this new TikTok won’t just be fairer—it’ll be GREATER,” he said.

While TikTok’s future in the US remains uncertain due to ongoing regulatory scrutiny and national security concerns, McCourt and Ohanian’s bid signals a radical new direction for the platform—one that could redefine social media ownership in the Web3 era.

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