Solana (SOL) is the fastest growing blockchain for new cryptocurrency developers

Solana is reported to be the fastest-growing blockchain in terms of new crypto developers, with growth rates reaching double digits in a single year.

According to an Electric Capital analysis published on December 12, Solana (SOL) is the number one blockchain for new crypto developers, with annual growth of up to 83%, outpacing the world’s largest blockchain, Ethereum (ETH).

According to the research, 7,625 of the 39,148 new developers this year chose Solana as their first blockchain platform. This number has eclipsed Ethereum (6,456 new developers) and other blockchains (3,383). This trend has been increasing annually since a few years ago.

This burgeoning blockchain ecosystem remains the second-largest on each continent. Solana nearly flipped Ethereum in Asia this year, with adoption rates over 20%.

At the same time, Ethereum remains the leading ecosystem, with the most monthly active developers across all continents. Ethereum was dominant in the Americas and Europe, with monthly adoption rates of more than 25%.

Along with Base, this blockchain has the lowest fee use case for NFTs and controls 64% of NFT mint transactions. In DEX usage, they also accounted for 81% of transactions and have the most unique trade wallets among the competitors.

Solana is the first ecosystem in India

According to the report, India added a large number of fresh developers to this ecosystem and flipped Ethereum and Base (BASE). This data demonstrates how Asian countries are the emerging market for Solana.

India’s share of new developers increased to 17% in the first quarter, followed by the United States, which fell 3%. China, Canada, and Nigeria have experienced growth, although not in considerable quantities. Ethereum is still prominent in several other large countries, including the United States, the United Kingdom, China, and Canada.

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