solana According to the latest report published by the Foundation, developer activity on the network has seen steady growth over the last 12 months. According to the data, developers recorded an average of 2500-3000 development activities per month throughout 2023. According to the foundation, this activity only covers development activities that are “open to the public.”
However, data provided by Electric Capital’s blockchain development tracker Developer Report offers a different data. According to the report, it detected only 946 developer activities on Solana as of October last year. This represents less than half of the 2,634 developers identified in December 2022.
However, Solana continues to claim that it is currently the second largest ecosystem in terms of monthly active developers, falling behind Ethereum. For context, Ethereum had 5,769 monthly active developers on October 1, 2023. It’s trending 22% lower than the all-time figure of 7,433 reported on June 16, 2022, according to data from Electric Capital.
As Koinfinans.com reported, the Solana network has seen a 50% increase in developer retention in the last three months. This occurred at the same time as the rising price.
After falling as low as $96 last week, the SOL price rose over 11% in the last 24 hours to $100.69, increasing its market cap to $43.4 billion.