Solana Emerges as Top Ecosystem for New Developers, Surpassing Ethereum

Solana has made a remarkable leap in 2024, overtaking Ethereum to become the top choice for new developers.

This shift ends Ethereum’s eight-year streak of being the most popular platform for developer activity. According to a recent report, Solana saw a significant influx of 7,625 new developers this year, placing it ahead of Ethereum for the first time since 2016.

This growth is part of a broader trend where Solana’s developer ecosystem has surged, with an 83% year-on-year increase in active developers. The network has particularly gained momentum in regions like Asia and India, where it now leads the way in terms of developer adoption. In comparison, Ethereum ranked second in most countries, including the US, UK, and Canada.

In addition to its developer success, Solana has become a dominant force in decentralized finance (DeFi), leading Ethereum in on-chain settlement volume. With over $574 billion in DeFi transactions in 2024, Solana has also captured a significant portion of decentralized exchange (DEX) activity, processing 81% of all DEX transactions across blockchain networks.

This momentum is reflected in Solana’s growing Total Value Locked (TVL), which surged from 3% to 25% of on-chain capital outside Ethereum. These achievements point to Solana’s expanding influence, with experts predicting continued growth into 2025 as more projects move onto the platform.

Solana’s thriving ecosystem, especially its meme coin sector, has contributed to its dominance in DEX volume. In recent days, it led Ethereum in daily and weekly DEX trading, recording $4.13 billion in the last 24 hours, surpassing Ethereum’s $3.17 billion. Solana’s success in both developer adoption and DeFi transactions signals its continued ascent as a key player in the blockchain space.