Solana Developer Ecosystem Shows Consistent Growth
In its recent report, the Solana Foundation revealed that the developer ecosystem on the Solana blockchain has experienced steady growth over the past year. On average, there have been 2500-3000 monthly active developers building on Solana throughout 2023.
The foundation also acknowledged that this number may actually be higher, as it only accounts for developers contributing to public repositories and not those working on private repositories.
Contrasting Data from Electric Capital
However, data from Electric Capital’s Developer Report paints a different picture. According to their findings, there were only 946 developers building on Solana as of October 2023, which is less than half of the previous year’s count.
The report also noted a decline in monthly active developers on Solana throughout 2023, based on data from GitHub. This aligns with the overall trend of declining developers in the crypto space since July 2023.
Solana Second-Largest Ecosystem
Despite the decrease in developer numbers, Solana claims to have the second-largest ecosystem in terms of monthly active developers, trailing behind Ethereum. In October 2023, Ethereum had 5,769 monthly active developers, a decrease from its all-time high of 7,433 in June 2022.
50% Increase in Developer Retention
On a positive note, Solana has seen a 50% increase in developer retention over the past three months. This can be attributed to the growing network activity on Solana and the rise in prices of the native SOL token.
Hot Take: Solana Gains Momentum Amid Price Surge
Solana’s native token, SOL, has experienced a significant price rally, reaching $100.69 with a market cap of $43.4 billion. This surge in price, along with the increase in trading volumes and institutional interest, has further propelled Solana’s momentum in the crypto market.
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