Community-driven crypto projects still thriving despite headwinds

Community engagement has always been a key aspect of crypto, and it's proving its value during bear markets as developers and users rally together to keep projects afloat. While the bear market continues to drag on, many projects with a heavy emphasis on community involvement are still thriving, with active users, development teams and networks of users supporting their projects.

Projects such as Steem have seen impressive levels of user engagement despite a prolonged bear market. The platform, which recently celebrated its fourth anniversary, has been at the forefront of crypto innovation and boasts a committed user base that supports the project and its mission. Devoted users have stuck with the project despite the market downturn and have helped to keep Steem alive and well.

Community-driven projects such as Augur, Ethereum and Maker have also seen surges in user engagement. Augur, an Ethereum-based prediction market platform, has seen an influx of new users and applications for the platform due to its community incentives and rewards. Ethereum itself has seen a rise in user numbers and active projects, resulting in a resurgence in development activity. And Maker, which launched its December 2019 Community Governance CDPs, has seen an increase in community participation.

While global markets continue to be influenced predominantly by the performance of Bitcoin, the importance of community-driven projects cannot be understated. With lower price points for entry, robust platforms and teams dedicated to keeping their projects alive, these projects offer a valuable alternative for users looking to dive into the world of crypto.

Summary

Community engagement has always been a key aspect of crypto, and it's proving its value during bear markets. Projects such as Steem, Augur, Ethereum and Maker have seen impressive levels of user engagement despite a prolonged bear market, and their communities have helped to keep these projects alive and well. The importance of community-driven projects cannot be understated, and they offer a valuable alternative for users looking to dive into the world of crypto.