Solana (SOL) now boasts more than 2,500 monthly active developers

Over the previous three months, the Solana Foundation has seen a 50% increase in developer retention on the network. According to recent Solana Foundation data, the Solana SOL $102 ecosystem now has over 2,500 monthly active developers. Solana said in a Jan. 9 study that reviewed key network indicators until 2023 that its network has maintained between 2,500 and 3,000 monthly active developers over the previous year. “Sustaining a consistent amount of developers is an important indicator of a healthy ecosystem because it showcases the ecosystem’s ability to attract and retain new talent,” it stated, adding that the statistic only takes into consideration developers who contribute to public repositories.

However, according to Electric Capital’s blockchain development tracker Developer Report, Solana’s developer count was just 946 as of Oct. 1, 2023, down from an all-time high of 2,634 on Dec. 22, 2022. Developer Report uses GitHub data to provide data points about blockchain developer activity. However, the data was only up to October 1. According to an Electric Capital spokeswoman, Q4 data will be updated by next week. According to Electric Capital data, Ethereum’s total monthly active developer count was 5,769 on October 1, 2023, down 22% from its peak level of 7,433 on June 16, 2022.

Meanwhile, developer retention on Solana has increased by 50% in the previous three months, coinciding with an increase in activity on Solana’s network and an increase in the price of the native Solana token. Solana experienced a 500% price increase between October and December, fueled by a frenzy for SOL-based memecoins, propelling it to briefly surpass Binance’s BNB $303 token to become the fourth-largest cryptocurrency by market capitalization on December 22 and post yearly highs of $122 just days later on December 26. The network also had a significant increase in activity, briefly outperforming Ethereum in 24-hour DEX volumes in the same month.

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