The Solana has experienced a significant surge, boasting more than 2,500 monthly active developers, marking a 50% increase in developer retention over the past 3 months.
Key Takeaways
- Solana reports over 2,500 monthly active developers, indicating a thriving ecosystem.
- Electric Capital’s data shows a decline in Solana’s developer count from an all-time high in December 2022 to October 2023.
- Solana’s developer retention has surged by 50% in the last three months, highlighting a commitment to the platform.
- Solana’s network experienced a 500% price rally in the final quarter of 2023, briefly surpassing Binance’s BNB token in market capitalization and reaching yearly highs.
Solana Surpasses 2,500 Monthly Active Developers
The Solana Foundation’s recent report reveals that the Solana ecosystem now boasts more than 2,500 monthly active developers. This surge is considered a vital indicator of a healthy ecosystem, showcasing its ability to attract and retain new talent. However, it’s noteworthy that this metric specifically accounts for developers contributing to public repositories.
The Solana network now boasts more than 2,500 monthly active developers according to a year-in-review report from @Solana. Meanwhile, developer retention has increased by 50% in the last three months. https://t.co/duL7kq3JoQ
— Cointelegraph (@Cointelegraph) January 9, 2024
While Solana’s report indicates a sustained developer count, data from Electric Capital’s blockchain development tracker, up to October 1, 2023, suggests a decline in Solana’s developer numbers from an all-time high in December 2022.
Read More: Solana’s Price Drops to $90, Signal Points to Possible Rise
Developer Retention and Market Dynamics
Solana’s developer retention has experienced a remarkable increase of 50% over the past three months. This surge coincides with heightened activity on the Solana network and a substantial price rally in its native token, SOL.
The token’s witnesses a remarkable price surged by 500% between October and December 2023, briefly overtaking Binance’s BNB to become the fourth-largest cryptocurrency by market capitalization on December 22.
To Conclude
Solana’s achievement of over 2,500 monthly active developers, coupled with a notable increase in developer retention and the impressive performance of its native token, SOL, highlights the platform’s growing influence.
While there are disparities in reported developer counts, the overall trend indicates a dynamic and thriving ecosystem, positioning Solana as a noteworthy player in the blockchain landscape.
