Here’s Where Cryptocurrency Developers Are Flocking

Recent trends indicate a significant shift in the landscape of cryptocurrency and blockchain development talent.

A recent report reveals that Asia has surpassed North America as the leading region for cryptocurrency and blockchain development talent.

In 2024, Asia’s share of cryptocurrency developers climbed to 32%, a significant increase from 13% in 2015, solidifying its position as the top hub for developer talent. In contrast, North America’s share has decreased dramatically, dropping to 24% from 44% over the same period.

Maria Shen, a general partner at Electric Capital, noted this shift in an October 30 post on X, stating, “Asia is now #1 for crypto devs. The US is losing market share. Crypto impacts every state in the US – crypto should be non-partisan.” The geographic distribution of crypto developers often indicates which regions are poised to lead future blockchain innovation, and the increasing developer base in Asia suggests a growing acceptance of blockchain technology and its applications.

While 81% of blockchain developers now reside outside the United States, the US still boasts the highest total number of developers globally, accounting for about 18.8% of all crypto developers. India follows with 11.8%, and the United Kingdom ranks third at 4.2%. However, the US has experienced a decline of over 51% in developer share since 2015, despite ongoing industry growth. Within the US, California is home to 22.3% of developers, while New York has 13.7%, with 64% living outside these two states.

The researchers conducted an analysis of over 200 million crypto-related GitHub commits across 350,000 repositories, utilizing geographical data from more than 110,000 developer wallets with self-reported locations. Meanwhile, institutional interest in cryptocurrencies has surged in Asia, particularly in South Korea, where the number of crypto investors rose by 21% in the first half of 2024, contributing to a year-on-year profit increase of 106% for the top 21 local centralized exchanges, totaling $4.2 billion.