Ethereum Rival Solana Becomes the Top Ecosystem for New Developers After 83% Growth This Year: Electric Capital

Solana ( SOL ) was the top ecosystem choice this year for new developers, according to a recent report. Researchers at the venture firm Electric Capital note that 39,148 new developers explored the crypto space in 2024. The firm also says that 2024 was the first year since 2016 that any ecosystem besides Ethereum ( ETH ) ranked first among the new developer cohort, with 7,625 new devs choosing Solana, compared to 6,456 for Ethereum. Solana also leads in terms of decentralized exchange (DEX) usage, capturing 81% of DEX transactions and ranking the highest in terms of the number of unique trading wallets. Base, Coinbase’s Ethereum layer-2 scaling solution, ranked second in unique trading wallets. Ethereum still remains the top ecosystem for development overall, ranking number one across every continent. Solana ranked second. Electric Capital says developer numbers are a “leading indicator of value creation.” “Developers build apps that deliver value to users. Killer apps attract customers. New customers bring more developers. Because crypto is significantly open source, we have an unprecedented ability to measure this developer-value creation flywheel in a rapidly evolving industry.” Solana’s native asset, SOL, is trading at $227.70 at time of writing. The 5th-ranked crypto asset by market cap is down more than 3% in the past 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Ethereum Rival Solana Becomes the Top Ecosystem for New Developers After 83% Growth This Year: Electric Capital appeared first on The Daily Hodl .