According to a recent report, Solana (SOL) was named the best ecosystem for new developers this year.
Researchers at venture firm Electric Capital found that 39,148 new developers explored the cryptocurrency world in 2024.
The company also noted that 2024 marked the first year since 2016 that every ecosystem except Ethereum (ETH) ranked first among new developer groups, with 7,625 new developers choosing Solana compared to 6,456 for Ethereum. He said he did.
Solana also leads in terms of decentralized exchange (DEX) usage, accounting for 81% of DEX transactions and ranking highest in terms of number of unique trading wallets. Base is Coinbase’s Ethereum layer-2 scaling solution, taking second place among unique transaction wallets.
Ethereum still remains the best ecosystem for overall development and ranks first on all continents. Solana took second place.
Electric Capital says developer numbers are “a key indicator of value creation.”
“Developers build apps that provide value to users. A killer app attracts customers. New customers bring more developers. “Because cryptocurrencies are largely open source, we have an unprecedented ability to measure the developer value creation flywheel in a rapidly evolving industry.”
Solana’s underlying asset, SOL, is trading at $227.70 at the time of this writing. The fifth-largest cryptocurrency asset by market capitalization fell more than 3% in the past 24 hours.
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