Solana Leads in New Crypto Developer Growth with 83% Annual Increase

Solana has emerged as the fastest-growing blockchain in terms of new crypto developers, with growth reaching up to double-digit percentages in a single year. The blockchain has surpassed Ethereum, the largest blockchain in the world, in new developer adoption.

New Developer Adoption on Solana

According to recent data, Solana has seen an impressive 83% annual growth in new crypto developers. A total of 7,625 out of 39,148 new developers this year have chosen Solana as their first blockchain, surpassing Ethereum’s 6,456 new developers. This trend has been increasing every year since a few years ago.

July 2024: Solana became the first ecosystem to onboard more developers than Ethereum since 2016.

Global Adoption and Dominance

Solana remains the second-largest ecosystem in every continent. In the Asia region, Solana has almost flipped Ethereum, with more than 20% adoptions this year. However, Ethereum continues to dominate in the Americas and Europe regions, with more than 25% adoptions every month.

Key Statistics and Use Cases

Some notable statistics and use cases for Solana include:

  • Lowest fee use case for NFTs
  • 64% of NFT mint transactions
  • 81% of DEX usage transactions
  • Highest number of unique trading wallets among other blockchains

Emerging Markets and Regional Dominance

In terms of regional dominance, Solana has emerged as the leading ecosystem in India, with a massive number of new developers adopting the blockchain. This trend is reflective of the growing interest in Solana in Asian countries.

India’s share of new developers has jumped to 17%, followed by the U.S. with a 3% decline. Other countries, including China, Canada, and Nigeria, have seen growth but no significant numbers. Ethereum, however, remains dominant in many other major countries, including the United States, the United Kingdom, China, and Canada.

Stay up-to-date with the latest news and developments in the world of cryptocurrencies and blockchain on Global Crypto News.

Post Views: 0