Bull sentiments among the Solana Cryptocurrency investors surged rapidly as the Solana network succeeded in attracting a huge number of crypto developers in its ecosystem in the last 12 months.
On 12 Dec 2024, a report by Electric Capital noted that the Solana network successfully attracted a total of 7,625 developers in 2024. This number of crypto devs inflow in any Crypto blockchain system is highest, more than Ethereum blockchain ecosystem.
Here, it is worth it to note that Ethereum is still at the top in terms of active Blockchain dev number, but notably, 17% of devs left Ethereum. So now Ethereum has a total of 6,244 active developers. Nearly more than half of the Ethereum Devs are involved in Ethereum layer-2 projects. Since 2016, Solana Blockchain became the first to beat Ethereum in terms of attracting new developers.
Ethereum is still the number one ecosystem for total developer activity aworldwide Source: Electric Capital pic.twitter.com/dtucECpuzd
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— Bitcoinik (@Bitcoinikdotcom) December 13, 2024
It is interesting to note that Asia overtook North America as the leading continent for blockchain developers. Nearly 17% of all the crypto devs belong to the jurisdiction of India.
Alongside all these significant activities among crypto devs, the United States remains the country with the largest overall developer base, holding a 19% share of the global total.
Solana coin price action
The current trade price of Solana ($SOL) coin is $224 & this price level is nearly 2.25% down over the last 24 hours period.
Crypto trading analysts noted that Sol coin has shown resilience, rebounding towards the $230 mark after briefly hitting the $200 zone.
Analysts believe that if the SOL coin can maintain the current bull momentum, then there are huge chances that it will easily surpass the $235 threshold & may break the current price level and easily hit all-time all-time high of $264 in the short-term.
Glassnode co-founders Yan Happel and Jan Allemann found that Solana’s daily Relative Strength Index (RSI) is neutral, which is a very big indication that there are chances for upward movement without being overbought.
Read also: Ripple to Sell $500 Million Worth of $XRP, Triggers Panic Selling
Solana Out Spaces Ethereum by Attracting 7,625 New Developers in 2024
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