Originally published on: December 13, 2024
In a surprising twist this year, Solana has emerged as the preferred ecosystem for new developers, dethroning Ethereum after an eight-year reign. According to a recent report from Electric Capital, Solana outpaced Ethereum in onboarding new developers for the first time since 2016.
With a total of 7,625 new developers joining the Solana ecosystem this year, especially driven by growth in Asia, it’s clear that Solana is making waves in the development community. The report also highlights an impressive 83% increase in activity within the Solana ecosystem since last year.
Solana’s rise to the top was marked by significant milestones, including surpassing Ethereum in network activity and daily fee generation on various occasions throughout the year. Despite a 7% drop in overall new crypto developers globally, Solana’s growth is a testament to its appeal and potential for innovation.
While Ethereum still holds the title for total developer activity globally, Solana’s rapid ascent signals a shift in the landscape of developer ecosystems. The growth of Ethereum’s layer-2 networks and the emergence of standout protocols like Eigenlayer demonstrate the dynamic and evolving nature of the crypto space.
In a year where crypto activity has expanded across continents and time zones, Asia, Europe, and North America have emerged as key hubs for crypto innovation. With India leading the pack in onboarding new developers, the global crypto community is poised for further growth and diversity in the coming years.
As stablecoin transactions remain active across different regions and NFT trading sees peaks during specific time frames, developers are exploring new possibilities and use cases within the crypto space. Solana’s success story serves as a reminder of the ever-changing dynamics of the crypto ecosystem and the endless potential for innovation and growth.