A recent report indicates that Solana is emerging as the fastest-growing blockchain among new crypto developers. The Electric Capital report of Dec. 12 shows remarkable growth figures.
Solana has become the top choice for new crypto developers, with an annual growth rate reaching 83%, outpacing even the giant Ethereum. Out of 39,148 new developers this year, 7,625 have opted for Solana as their first blockchain, exceeding the 6,456 new developers on Ethereum and 3,383 on other blockchains. This upward trend has been consistent over the past few years.
Solana is also the second-largest ecosystem on every continent. In Asia, it nearly overtook Ethereum, with over 20% adoption this year. However, Ethereum still leads in terms of the number of monthly active developers across continents and dominates in the Americas and Europe, with over 25% monthly adoption.
Solana, along with Base, has the lowest fee use case for NFTs and accounts for 64% of NFT mint transactions. In decentralized exchange (DEX) usage, it captures 81% of transactions and has the highest number of unique trading wallets.
Notably, Solana is the leading ecosystem in India. The country has seen a significant influx of new developers, surpassing Ethereum and Base. India’s share of new developers has surged to 17%, with the U.S. following at a 3% decline. While China, Canada, and Nigeria have shown growth, it has not been as substantial. Nevertheless, Ethereum remains dominant in major countries like the U.S., the U.K., China, and Canada.
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