Asia Leads Crypto Development Surge, Outpacing the West

Asia is quickly becoming the global hub for cryptocurrency development, outpacing other regions at an impressive rate.

According to Electric Capital’s latest report, Asia accounted for 32% of global crypto developer activity in 2024. This marks a sharp increase from just 12% in 2015, while North America’s share has dwindled from 43% to 24% during the same period.

The report, which analyzed over 900 million code commits, highlights a major shift in the industry. The data shows India is a key player in this transformation, claiming 11.7% of the global share and positioning itself as the second-largest crypto developer nation after the United States. As a result, India has outpaced the rest of the world in attracting new developer talent since 2023.

While the overall number of active crypto developers declined by 7% this year, the rise of seasoned developers continues. Developers with over two years of experience in the field now contribute to more than 70% of code commits.

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Meanwhile, Ethereum remains the dominant platform for developers, although Solana is rapidly gaining traction, especially among newcomers. In fact, by mid-2024, Solana had become the top choice for new developers, surpassing Ethereum in some regions.

Emerging markets in Asia have contributed significantly to the influx of fresh development talent, with these areas now accounting for 41% of all new developers in 2024. This trend signals not only a geographic shift but also the maturation of the crypto industry, with emerging regions driving much of its growth and development.

Alexander Zdravkov