December 20, 2024
SOLANA CLAIMS #1 SPOT IN 2024 NEW DEVELOPER TRENDS
Solana claimed the top spot as the #1 ecosystem for new developers in 2024, according to a report released by Electric Capital this week. With a 83% year-over-year growth, this marks the first time since 2016 that any blockchain ecosystem has outpaced Ethereum in attracting fresh developer talent.
While Solana may be the go-to for new devs, Ethereum continues to reign supreme as the leader in total developer activity. However, much of this innovation is happening on Ethereum Layer 2 (L2) solutions, where Base has been making waves. Base now accounts for 42% of all new code written in the Ethereum ecosystem, earning its crown as the #1 Ethereum L2.
When it comes to decentralized exchanges (DEXs), Solana is in a league of its own, capturing a whopping 81% of DEX transactions. It also leads in unique trading wallets, solidifying its dominance in DeFi. Not to be outdone, Base clinched the #2 spot by unique trading wallets, showing it’s a force to watch.
The established developer base—those with two or more years in the crypto space—grew 27% in 2024. This is great news for blockchain maturity and long-term project sustainability. On the flip side, part-time developers (active fewer than 10 days a month) dipped by 8%, indicating a shift toward more committed contributors.
Across the board, several ecosystems saw notable growth in developer participation. Internet Computer, Aptos, Base, Bitcoin, Sui, NEAR, Polkadot, Polygon, and Starknet each added over 1,000 new developers this year. It's clear that innovation is flourishing across multiple networks, not just the big players.
The 2024 numbers tell a story of growth, competition, and diversification. Solana’s rapid rise is a testament to its growing appeal, but Ethereum’s stronghold on overall activity and the momentum of L2s like Base signal that there’s plenty of room for innovation across the board. If this year is any indicator, the race for blockchain dominance is just heating up!
COINBASE IS MOVING AWAY FROM wBTC TO cbBTC: WHAT'S BEHIND IT?
Coinbase is shaking things up in crypto by delisting Wrapped Bitcoin (wBTC). For those who don’t know, wBTC has been a favorite among Bitcoin holders who want to dip their toes into Ethereum’s decentralized finance (DeFi) space. It’s basically Bitcoin in ERC-20 token form, allowing users to lend, stake, and trade on Ethereum while keeping their BTC safe.
So why the change? Coinbase hasn’t given full details, but these decisions usually relate to things such as liquidity issues, shifting demand, or ensuring everything stays on the right side of regulations. While wBTC has had a good run, Coinbase seems to be making room for something new: cbBTC.
What’s cbBTC? It’s Coinbase’s fresh take on wrapped Bitcoin, promising similar functionality—bridging the gap between Bitcoin and Ethereum—but potentially with some added perks. Whether that means better security, compliance, or just a more streamlined user experience, we’ll have to wait and see.
If you’re holding wBTC on Coinbase right now, don’t panic. Just keep an eye on their updates about timelines and steps you might need to take. It’s all part of the constant evolution in the crypto space, where platforms are always looking to innovate and adapt.
This move highlights how fast things change in crypto. Wrapped Bitcoin products like wBTC and cbBTC are all about creating more opportunities for users to explore DeFi. As the space grows, expect to see even more options for bridging the gap between blockchains.
YOUR CRYPTO-THEMED HOLIDAY GIFT GUIDE
If you’re looking for the perfect crypto-themed gift this year, Cryptonews has compiled a 2024 holiday gift guide that has the perfect last-minute present ideas.
From a Heater/Air Purifier That Mines Bitcoin - a Smart-Ring Built on Solana - to Gold Paired with Art on the Bitcoin Blockchain, Cryptonews has found a range of innovative gift ideas that might just make you the everyone’s favorite gift giver this year!