North America

Electric Capital Report: The Number of Crypto Developers in Asia Surpasses North America

ChainCatcher news, Electric Capital partner Maria Shen released a global cryptocurrency developer distribution research report showing that, through the analysis of over 110,000 developer profiles, North America's leading position in the share of cryptocurrency developers has been surpassed by Asia. The share of developers in North America has sharply declined from 44% in 2015 to 24% in 2024. Meanwhile, Asia's share has risen from 13% to 32%, becoming the largest continent for crypto talent for the first time.By country, the United States ranks first globally with a share of 18.8%, followed by India and the United Kingdom with 11.8% and 4.2%, respectively. Since 2015, the U.S. share of global cryptocurrency developers has plummeted by 51%. During the same period, the cryptocurrency market size skyrocketed from $5 billion to $2.4 trillion, an increase of nearly 480 times.Additionally, although the cryptocurrency industry is often thought to be concentrated in traditional tech hubs like California and New York, in reality, 64% of developers are distributed outside these areas. The study analyzed over 200,000 crypto-related Git commit records, involving more than 350,000 code repositories. Maria emphasized that cryptocurrency development should not be partisan, as developers are spread across states, representing different political backgrounds.

Data: The Bitcoin transaction volume in Sub-Saharan Africa accounts for more than that of North America and Eastern Europe, ranking first in the world

ChainCatcher news, a Chainalysis report shows that the transaction volume in Sub-Saharan Africa accounts for 2.3% of the global cryptocurrency transaction volume, "cryptocurrency has penetrated key markets and has become an important part of daily life for many residents."From July 2022 to June 2023, Nigeria's transaction volume approached $60 billion, making it the largest cryptocurrency market in Sub-Saharan Africa. Overall, the total transaction volume in the region during the same period was $117.1 billion. Data shows that Nigeria accounted for nearly half of the total transaction volume in the region during this period.South Africa's transaction volume exceeded $20 billion during the same period, making it the second-largest cryptocurrency market in Sub-Saharan Africa. Kenya, Mauritius, and Ghana ranked third, fourth, and fifth, respectively, making it into the top five in the region.At the same time, Chainalysis data indicates that residents in Sub-Saharan Africa are increasingly viewing BTC as a means of storing value. The share of Bitcoin transaction volume in the region accounted for 9.3% of the total transaction volume, surpassing all other regions, including North America (9.0%) and Eastern Europe (8.2%). While Bitcoin remains the number one cryptocurrency in the region, the latest data seems to suggest that people are leaning towards using stablecoins.
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