New Developers Flock to Solana
This year, Solana became the most popular ecosystem for new developers, ending Ethereum's eight-year reign in this area. According to Electric Capital's report from December 12, Solana attracted more new developers than Ethereum for the first time since 2016.
In 2024, 7,625 new developers joined Solana, with significant growth observed in Asia, compared to 6,456 developers joining Ethereum.
Significant Growth in Solana's Activity
Solana's activity increased by 83% compared to last year. In some areas, it even temporarily surpassed Ethereum:
March 18: Solana's network activity exceeded Ethereum's, fueled by the popularity of memecoins on its platform.
October 28: Solana generated more daily network fees than Ethereum within 24 hours.
Ethereum Remains the Leader in Overall Developer Activity
Despite a 17% decrease in monthly developer activity to 6,244 developers over the past year, Ethereum remains the global leader in overall developer engagement.
Electric Capital reports that Ethereum has the most active developers in Asia, Europe, North America, Africa, and South America.
Additionally, Ethereum's Layer 2 (L2) networks have grown by 64% since 2021, with 26% of all monthly developers working on L2 or directly on the Ethereum mainnet.
Ethereum's Fastest-Growing Project
Eigenlayer, a protocol focused on data recovery, was Ethereum's fastest-growing developer ecosystem in 2024, with a 167% increase in monthly developers.
Cryptocurrency Sees Global Expansion
Global Developer Growth
Electric Capital's report highlights significant growth in crypto developer numbers, particularly in Africa, South America, and Asia.
Asia leads the way, with one in three global developers residing on the continent, partly thanks to India, which welcomed the most new crypto developers this year.
Europe and North America remain key crypto hubs.
Regional Differences in Use Cases and Activity
Cryptocurrency activities occur worldwide, with different regions focusing on specific applications:
Stablecoin transactions are active during daytime hours in Asia, Europe, and Africa, with a 3% increase in activity.
NFT trading peaks during U.S. working hours, while NFT minting is most active during working hours in Asia.
Solana and Ethereum are not only competing for new developers but also reflecting the global growth of cryptocurrency activities across various regions and time zones.
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