Asia's Rise as a Leader in Cryptocurrency
The geographic distribution of cryptocurrency developers often indicates which regions are poised to lead future blockchain innovations. A recent report showed that Asia has surpassed North America, emerging as a leader in cryptocurrency and blockchain development.
Asia’s share of the crypto developer base grew to 32% in 2024, a significant increase from 13% in 2015. This growth positions Asia as a key region for developer talent in this rapidly evolving industry.
Decline of Developers in North America
Meanwhile, the share of North American developers has effectively halved over the same period, dropping from 44% in 2015 to 24% in 2024. Maria Shen, General Partner at Electric Capital, commented on October 30:
“Asia is now number 1 for crypto developers. The U.S. is losing market share. Crypto affects every state in the U.S. — it should be neutral.”
This growth in Asia’s developer base is a positive indicator of mass blockchain adoption, as it suggests an increasing number of consumer applications built on this technology.
The U.S. Still Leads in the Number of Crypto Developers
Despite 81% of blockchain developers now residing outside the United States, the U.S. still holds the highest number of developers globally. Approximately 18.8% of all crypto developers are based in the U.S., followed by India at 11.8%, with the UK holding the third position at 4.2%.
However, since 2015, the U.S. has seen a decline of over 51% in its share of developers, despite the continued growth of the industry. In the U.S., 22.3% of developers are based in California, and 13.7% in New York, with 64% located outside these two states.
Research on Crypto Data on GitHub
Researchers analyzed over 200 million cryptocurrency-related records on GitHub across 350,000 repositories. Geographic data was drawn from more than 110,000 developer wallets, where developers self-reported their locations.
Growing Institutional Interest in Cryptocurrency in Asia
Institutional interest in cryptocurrency is rising in Asia. In South Korea, the number of crypto investors increased by over 21% in the second half of 2024. This growth pushed the cumulative operational profits of the top 21 local centralized exchanges (CEX) above $4.2 billion, representing a year-over-year increase of 106%.
#Cryptocurrencies , #worldnews , #CryptoNews🚀🔥 , #cryptoWorld , #BTC☀
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
