"New Developers Show Increased Interest in Solana (SOL)... Ethereum (ETH) Still Holds Top Market Share"
Summary
- The number of new developers creating Solana (SOL)-based apps has increased by 83% compared to the previous year.
- The Solana network has shown a greater growth rate than Ethereum (ETH) for the first time since 2016.
- Ethereum still holds the top market share in several regions, including North America.
According to The Block, a cryptocurrency-focused media outlet, Electric Capital, a Web3-focused investment firm, reported that out of 39,148 new developers entering the cryptocurrency space this year, 7,625 have developed apps based on Solana (SOL).
This represents an 83% increase in the number of network developers compared to the previous year, marking the first time since 2016 that the Solana network has shown a greater growth rate than Ethereum (ETH).
However, in terms of developer market share across North America, South America, Asia, Europe, and Africa, Ethereum still holds the top position, with Solana in second place.
The report explains that the increased interest from developers in Solana is due to factors such as the surge in meme coin issuance through Pump.fun, as well as expanded network and user activities.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
