Solana Surpasses Ethereum in New Developers After 8 Years

• Solana surpasses Ethereum in new developer growth for the first time in eight years in 2024.
• Despite Solana’s surge, Ethereum remains the global leader in total developer activity.
• Eigenlayer sees 167% growth in 2024, becoming the fastest-growing Ethereum ecosystem.

For the first time in eight years, Solana has beaten Ethereum in the number of new developers joining the platform. According to the recent Electric Capital report, Solana had 7,625 new developers in 2024, while Ethereum had 6,456 new developers. This is a big development for Solana, which has experienced robust expansion in Asia and has seen an 83% increase in developer engagement annually.

Despite Solana’s surge, Ethereum remains the largest ecosystem for developer activity globally. The report shows that Ethereum still leads with the most active developers across continents, including Asia, Europe, North America, and Africa. Ethereum’s Layer-2 networks have also experienced impressive growth, increasing by 64% since 2021. 

Solana’s Key Milestones

On March 18, Solana’s network activity briefly surpassed Ethereum’s due to a boom in Solana-based memecoins. Later, on October 28, Solana also outpaced Ethereum in daily network fee generation for the first time. These milestones have helped elevate Solana’s position in the developer community.

Overall, the number of new developers entering the crypto space has declined. This year, 39,148 new developers joined the crypto ecosystem, a 7% drop from last year and far from the 77,000 new developers recorded in 2022. Despite this, Ethereum still holds a dominant position with a larger pool of monthly active developers, with 6,244 active on the network.

Electric Capital’s report also highlights the rapid growth of Eigenlayer, Ethereum’s restaking protocol. With a 167% increase in developer activity in 2024, Eigenlayer has become the fastest-growing ecosystem, signaling strong interest in Ethereum’s Layer-2 solutions. 

Global Crypto Development Trends

The report further explains the growth of crypto development across the globe. Asia has turned into a region of focus, with one in every three developers working on crypto. India has been the most productive, as the country onboarded the most new developers in 2024. Africa and South America joined the others with increased adoption of cryptocurrencies during this period.

Stablecoin transactions occur during business hours in Asia, Europe, and Africa, while NFT trading is at its peak during working hours in the United States. On the other hand, minting activity increases during Asia’s business hours.

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