6TH ANNUAL CRYPTO DEVELOPER REPORT

Summary from the TLDR Crypto newsletter

The Electric Capital Developer Report reveals shifts in patterns in 2024 with global monthly active developers down 7% to 23,613 and showing major geographic redistribution as Asia became the leading continent for crypto development, surpassing North America and Europe. The report highlights substantial growth in Ethereum Layer 2 development, with over half of Ethereum's developers now working on L2 solutions, while Solana emerged as the leading platform for new developers in 2024. Notable trends include record-breaking crypto ETF inflows exceeding $50B, all-time high stablecoin usage at $196B in circulation, and significant growth in NFT deployments and DeFi activity, particularly in restaking and liquid staking derivatives.