Solana emerges as fastest-growing ecosystem for developers globally
Solana has surpassed Ethereum as the preferred blockchain for new developers, attracting 7,625 new developers in the past year, marking a significant shift since 2016. Solana's developer base has grown to over 2,000 monthly active developers, reflecting an 83% year-over-year increase. The network is particularly popular in India and ranks second in the US, UK, Canada, and China. Solana's appeal stems from its efficiency, scalability, and low transaction costs, powering 81% of decentralized exchange transactions and 64% of NFT minting. In 2024, it processed transactions from 1.7 million unique wallets. Solana's DeFi ecosystem saw on-chain settlement volumes exceed $574 billion, increasing its total value locked from 3% to 25% outside Ethereum. Despite Solana's growth, Ethereum remains the largest blockchain by overall developer activity, with a 17% decrease in monthly active developers to 6,244. Ethereum's layer-2 solutions have seen a 67% increase in activity since 2021.
