The Solana SOL ecosystem has reported over 2,500 monthly active developers, as per recent data from the Solana Foundation. A report released on Jan. 9, 2023, stated that the network had maintained between 2,500 and 3,000 monthly active developers over the past year. The report emphasized the importance of sustaining a consistent number of developers as an indicator of a healthy ecosystem, noting that the measurement only accounts for developers contributing in public repositories.
However, data from Electric Capital’s blockchain development tracker Developer Report contradicts this, showing that as of Oct. 1, 2023, Solana’s developer count was only 946, a drop from an all-time high of 2,634 on Dec. 22, 2022. The Developer Report uses data from GitHub to produce data points concerning blockchain developer activity. The data for Q4 is expected to be updated by next week.
In comparison, Ethereum’s total monthly active developer count stood at 5,769 on Oct. 1, 2023, a 22% decrease from its peak count of 7,433 on June 16, 2022, according to Electric Capital data.
Despite these figures, developer retention on Solana has increased by 50% over the last three months. This coincides with a boom in activity on Solana’s network and an upward price action for the native Solana token. Solana experienced a significant 500% price rally between October and December, driven by a frenzy for SOL-based memecoins. This led to Solana briefly surpassing Binance’s BNB token to become the fourth-largest cryptocurrency by market capitalization on Dec. 22 and reaching yearly highs of $122 just days later on Dec. 26.
The network also saw a drastic increase in activity, briefly surpassing Ethereum in 24-hour DEX volumes in the same month. Solana was contacted for comment but did not provide an immediate response.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Cointelegraph, Electric Capital, Chainalysis, Solana Foundation, GitHub |
| Currencies | Solana, BNB, Ethereum |
| Securities | None |
