In the world of crypto, the Solana blockchain stands out with a remarkable breakthrough. With an impressive 50% growth in developer retention over the past three months, Solana is asserting its position with more than 2,500 monthly active developers. This constancy underlines the robustness and vitality of its ecosystem. Data from Developer Report, however, qualifies these figures.
Solana: a healthy crypto ecosystem?
Solana stands out in the crypto ecosystem, with a notable evolution. In a recent report assessing key network metrics throughout 2023, Solana has indicated that its network had maintained between 2,500 and 3,000 monthly active developers over the past year. This reflects a significant 50% increase in developer retention.
This notable increase is a powerful indicator of the health and vigor of Solana, which is among the largest crypto blockchains. However, it is important to note that these figures focus only on contributions to public deposits.
At the same time, this growth in developer retention on the network coincides with a spectacular increase in activity in this crypto ecosystem. Additionally, SOL crypto saw a staggering 500% increase between October and December.
This growth was largely driven by the excitement around SOL-based memecoin cryptos. This propelled SOL to temporarily surpass BNB and become the fourth largest crypto by market capitalization. As of December 26, the SOL crypto reached its yearly high at $122.
A drop in activity recorded in October
Although Solana has seen significant growth, data shows some decline in activity for a period. According to Developer Report, Electric Capital’s development tracker, activity on Solana was down.
Indeed, as of October 1, the number of developers was only 946. This represents a drop compared to the all-time high of 2,634 reached on December 22, 2022.
Additionally, the total number of monthly active developers of its rival, Ethereum stood at 4,769 on October 1, 2023. This shows a 22% decline from its peak of 7,433 reached on June 16, 2022. These statistics They were only valid until October 1. An Electric Capital spokesperson said fourth-quarter data would be updated by next week.
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