Electric Capital has released its annual developer report, which shows significant growth in the crypto industry across multiple sectors in 2024.
Asian Developers Take the Lead
According to Electric Capital's report, 2024 has seen a significant increase in the number of developers from Asia, placing the region in a leading position for the number of programmers, surpassing North America. Asia now ranks first, while North America is third after Europe. In 2015, 81% of crypto developers were based in North America and Europe, but this figure has now decreased to 55%.
India and Ethereum: Growth Leaders
The United States remains the country with the highest concentration of developers at 19%, despite a decrease from 38% in 2015. India has shown the most growth, climbing to second place and contributing 17% of new developers. Ethereum remains the leading ecosystem due to the growth in Layer 2 adoption.
NFT and DeFi: Recovery and Development
Electric Capital's report indicates an increase in activity in the NFT and DeFi space. For instance, stablecoin transactions are actively conducted during Asian, European, and African work hours. NFT minting peaked at a record level of $1.5 billion, while DeFi saw a significant increase in Total Value Locked. Emerging solutions such as restaking also demonstrated substantial growth.
Electric Capital's 2024 report showcases powerful growth trends within the crypto industry, highlighting Asia's role, Ethereum's innovations, and the recovery of NFT and DeFi sectors.
