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.

READ MORE:

Coinbase Announces the Addition of New Altcoin to Its Futures Trading Platform

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.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.