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REPORT: Asia has overtaken North America as the top continent for crypto developers

REPORT: Asia has overtaken North America as the top continent for crypto developers

Bitget2024/10/31 08:25

On October 31, Electric Capital partner Maria Shen released a global crypto developer distribution study showing that an analysis of more than 110,000 developer profiles found that North America's lead in cryptocurrency developer share was overtaken by Asia. North America's developer share has fallen dramatically, from 44% in 2015 to 24% in 2024. Meanwhile, Asia's share climbed from 13% to 32%, making it the number one continent for crypto talent for the first time.

By country, the U.S. ranked first globally with an 18.8 percent share, while India and the U.K. came in second and third with 11.8 percent and 4.2 percent, respectively. Since 2015, the U.S. share of global crypto developers has plummeted 51%. The cryptocurrency market has skyrocketed from $5 billion to $2.4 trillion over the same period, a nearly 480-fold increase.

Additionally, while the cryptocurrency industry is often thought to be concentrated in traditional tech hubs such as California and New York, 64 percent of developers are actually located outside of these regions. The study analyzed over 200,000 crypto-related Git commit records across more than 350,000 code repositories.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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