The Solana network has become the most popular ecosystem for new developers

In 2024, the Solana blockchain SOL $218.11 Solana -2.26% Market capitalization $104.48 billion VOL. 24 hours $0.45 billion overtook Ethereum ETH $3,841.62 Bridged Ether (StarkGate) -1.64% Market capitalization $0.34 billion VOL. 24 hours $1.06 billion for the first time in terms of the number of new developers joining the ecosystem. According to a report by Electric Capital, 7,625 new developers joined Solana this year, mostly in Asia, while Ethereum attracted 6,456. This marks the end of Ethereum’s eight-year dominance in this area.

Solana also showed a significant increase in activity, which increased by 83% compared to last year. During 2024, Solana outperformed Ethereum several times, including on March 18 in terms of network activity and on October 28 in terms of daily network fees.

Despite Solana’s success, Ethereum remains the leader in terms of overall developer activity with 6,244 active developers per month. Ethereum is also showing growth in its second-level (L2) solutions, where the number of developers has increased by 64% since 2021. In particular, the Eigenlayer protocol showed the fastest growth in 2024, increasing the number of developers by 167%.

Overall, 39,148 new developers joined the crypto industry in 2024. Although this is 7% less than in 2023, cryptocurrencies continue to attract new talent globally, especially in Asia, Europe, North America, and Africa.