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Cryptocurrency News Articles

Solana Overthrew Ethereum as the Top Ecosystem for New Developers This Year

Dec 13, 2024 at 11:37 am

New developers flocked to the Solana ecosystem this year, overthrowing Ethereum’s eight-year reign as the top ecosystem for new developers.

Solana Overthrew Ethereum as the Top Ecosystem for New Developers This Year

Solana (SOL) has flipped Ethereum (ETH) in terms of new developer onboarding for the first time since 2016, according to a Dec. 12 report from Electric Capital.

The Solana ecosystem experienced a 83% surge in activity compared to last year.

Solana also managed to briefly flip Ethereum on several other fronts in 2024.

On March. 18, Solana network activity surpassed Ethereum amid a memecoin mania, while Oct. 28 saw it surpass ETH in daily network fee generation over 24 hours.

In total, the report found that 39,148 new developers began exploring crypto this year, down 7% from last year and roughly half the all-time high of over 77,000 in 2022.

Ethereum remains number one ecosystem for total developer activity

Despite experiencing a 17% decrease in monthly Ethereum developers over the last year to 6,244, it still remains the largest ecosystem for total developer activity.

According to Electric Capital’s data, Ethereum has the most active developers across Asia, Europe, North America, Africa and South America.

Ethereum’s layer-2 networks have also seen growth of 64% since 2021, while 26% of all monthly crypto developers are working on L2s and the mainnet.

Eigenlayer, the primary restaking protocol on Ethereum, was the fastest-growing developer ecosystem in 2024, with a 167% increase in monthly overall developers.

Crypto spreading around the world

Electric Capital’s report found that crypto has grown globally as well, with developer numbers increasing in Africa, South America and Asia.

In particular, Asia, Europe, and North America are flagged as the most prominent crypto hubs in 2024.

Asia leads the pack with 1 in 3 developers worldwide living on the continent, thanks partly to India onboarding the most new crypto developers in 2024.

According to Electric Capital, crypto activity now spans all time zones as well, with different parts of the globe gravitating toward different use cases.

Stablecoin transactions are consistently active, rising 3% during Asian, European, and African daylight hours.

Meanwhile, non-fungible token (NFT) trading peaks are during America’s work day, and minting peaks are during Asia’s work hours.

Original source:tradingview

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