How Solana Beat Out Ethereum to Nab New Crypto Developers in 2024 - Ep. 749
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Venting volume actually hit an all time high in 2024. The highest that it reached in January 2021 was 800,000,000 in a month in terms of minting volume. In November 20 24, it hit 1,500,000,000. And so there's more that's being minted now than there ever was. 97% of that is happening on base. This kind of perception that we have around NFTs, right, that it's art, that it's collectibles, you're really seeing that diversify quite a bit in 2024. Some of the top assets are collectibles or game assets, but a lot of them are reward systems. Right? Or they could be NFTs used in defi activity. Or they
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin. On Tuesday's episode about crypto under Trump, featuring guests Jake Chervinsky and Mike Seelig, Raine tweeted on x. Let me tell you about Jake. He's an enlightening, knowledgeable, total nerd, and DeFi chad fighting for humanity's rights and freedoms in decentralized finance. Hashtag defi. Even pure meme heads love him. If you wanna hear your comment on the show, go to x or YouTube to post a comment or retweet. This is the December 11th, 2024 episode of Unchained. Polkadot is the origin
It's great to be here. Electric
Capital's developer report is one that the industry eagerly waits every year, and it seems that this year, there were a lot of big takeaways. What are the top line ones that caught your eye?
So this is the 6th year that we've been doing this. And just having you been the privilege of tracing this data for 6 years has been incredible. There are well, you know, I guess just as a top level takeaway, there are now 23,613 monthly active open source developers in crypto. I always like to caveat and say that this is a massive undercounting of developers in crypto crypto because we only look at open source developers. So this doesn't include a lot of gaming developers, a lot, you know, Coinbase developers usually aren't part of this, and so, really, any company with a private code base is
But but for new developers. Right? And
For new developers. Yeah. Was
so I understand that's for percentage, but is it also for absolute numbers? Yes. Oh, okay. Oh, interesting.
Yeah. Yeah. Super fascinating. Ethereum still has, by far, the biggest number of developers. Yeah. For new developers, Solana saw more new developers this year. And, you know, maybe another part of it is just how diverse use cases are getting. We're seeing this rise in kind of what I think of as low fee use cases across crypto. So that would be stable coin transfers, that would be DEX transfers, that would be NFT mints, NFT transactions across all of these metrics. There's this kind of unprecedented all time high activity, and it's happening on these low fee chains like Solana and Face. And so
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