According to Deep Tide TechFlow news, on October 31, Electric Capital partner Maria Shen released a global study on the distribution of crypto developers, showing that through the analysis of over 110,000 developer profiles, North America's leading position in the share of cryptocurrency developers has been surpassed by Asia. The share of developers in North America has sharply declined from 44% in 2015 to 24% in 2024. Meanwhile, Asia's share has risen from 13% to 32%, becoming the largest continent for crypto talent for the first time.
By country, the United States ranks first globally with a share of 18.8%, followed by India and the United Kingdom with 11.8% and 4.2%, respectively. Since 2015, the U.S. share of global crypto developers has plummeted by 51%. During the same period, the cryptocurrency market size skyrocketed from $5 billion to $2.4 trillion, an increase of nearly 480 times.
Additionally, while the cryptocurrency industry is often considered concentrated in traditional tech hubs like California and New York, in reality, 64% of developers are located outside these areas. The study analyzed over 200,000 crypto-related Git commit records, involving more than 350,000 code repositories. Maria emphasized that cryptocurrency development should not be partisan, as developers are spread across states, representing different political backgrounds.
