Solana surpassed Ethereum as the largest ecosystem for developers
Recently, the Solana blockchain network surpassed Ethereum as the largest ecosystem for developers in the cryptocurrency world. This milestone consolidates Solana as one of the most important multi-purpose networks. Likewise, the blockchain establishes itself as the largest of the so-called Ethereum killers.
With this new barrier surpassed, the network ends 8 consecutive years of Ethereum's dominance in this area. The ecosystem created by Vitalik Buterin and other experts drops to second place in developer reception, a field it had led since 2016. Essentially, Solana becomes the top choice for developers.
This achievement has a logical reason behind it, as Solana has enormous technological support. The ecosystem so far relies on its first layer to provide great advantages in terms of economy and speed for the protocols created within it.
According to data collected by Electric Capital in a report, the Solana network surpassed Ethereum with 7,625 new developers in 2024. They highlight that this is the first time in history that Ethereum has been displaced by another layer one network. Thus, the bet that Ethereum's reign is numbered is reinforced. Despite this, Buterin's network maintains a solid dominance in other areas.
Solana leaves Ethereum behind in active developers per month
The mentioned report highlights that Solana also leads in terms of active developers on a monthly basis. In this particular sector, the network has an annual growth rate of 83%, while Ethereum is notably lagging behind. Internet Computer (75%) and Base (50%) are in second and third place in terms of growth of active developers per month.
Solana's conquest of the throne in this regard occurred in July 2024. In that sense, it became the main preference in Asia, while it was second in the USA and the United Kingdom. However, the fact that it commands the elections in India already gave it the greatest advantage.
Solana's low fees become one of the great incentives for developers. This is reflected in the fact that 81% of all transactions on decentralized exchanges occurred on that network. Likewise, 64% of all NFT transactions minted on all blockchains also belong to Solana.
These and other data, such as the trading volume on exchanges, allowed Solana to leave Ethereum behind. This enthusiasm from developers and the community for this blockchain could generate enormous buying pressure for the network's native token, SOL.
At the time of writing this note, the price of the coin is $223 dollars per unit. Investors and analysts expect a new bullish impulse after the deep pullback that followed the ATH of November 21, when it reached $264.
