Solana overturns Ethereum’s 8-year reign as a top ecosystem for new divs.

New developers flocked to the Solana ecosystem this year, overturning Ethereum's eight-year reign as the dominant ecosystem for new developers.

However, Ethereum still ranks first globally in total developer activity.

A Dec. 12 report from Electric Capital showed that the Solana ecosystem had more new DVs in July than the Ethereum ecosystem for the first time since 2016.

That pace continued through the rest of the year, with current totals showing 7,625 new developers joining Solana, leading developer growth in Asia, compared to Ethereum's 6,456.

The Solana ecosystem has experienced an 83 percent jump in activity since last year, the report said.

Solana has briefly overturned Ethereum on several fronts this year. In March. 18, Solana network activity surpassed Ethereum amid a scramble for Solana-based memecoins, Oct. 28, surpassing Ethereum in generating daily network fees for more than 24 hours.

In total, the report found that 39,148 new developers started exploring crypto this year, down 7% from last year and nearly half of the 77,000 in 2022.

Ethereum is the number one ecosystem for the entire developer movement

Although monthly Ethereum developers are down 17% from last year to 6,244, it is still the largest ecosystem for total developer activity.

According to Electric Capital, Ethereum has very active developers across Asia, Europe, North America, Africa, and South America.

Ethereum layer-2 networks have seen a 64% growth since 2021, with 26% of all monthly crypto developers working on L2s and the mainnet.

Eigenlayer, the primary reset protocol on Ethereum, was the fastest growing developer ecosystem in 2024, with a 167% increase in monthly total developers.

Crypto is spreading worldwide.

Electric Capital reports that crypto has also grown globally, with an increasing number of developers in Africa, South America and Asia.

In particular, Asia, Europe and North America are tipped to be the most popular crypto hubs in 2024.

Asia leads the pack on the continent with 1 in 3 developers worldwide, thanks in part to India having the most innovative crypto developers on board by 2024.

RELATED: Crypto Market ‘Impressively' Ripe By 2024: Coinbase

Like Electric Capital, crypto activity currently spans all time zones, with different parts of the world drawn to different use cases.

Stablecoin transactions are consistently active, rising 3% during daylight hours in Asia, Europe and Africa.

Meanwhile, Irrevocable Token (NFT) trading peaks are during the US business day, and the highest quality levels are during Asian business hours.

Magazine: How Shibtoshi Gambled 37 ETH and Became a Shiba Inu Billionaire