PANews reported on October 31 that Electric Capital partner Maria Shen released a global crypto developer distribution research report showing that through the analysis of more than 110,000 developer profiles, it was found that North America's leading position in the share of cryptocurrency developers was surpassed by Asia. North America's developer share dropped sharply, from 44% in 2015 to 24% in 2024. At the same time, Asia's share climbed from 13% to 32%, becoming the number one continent for crypto talent for the first time.
By country, the United States ranks first in the world with 18.8%, India and the United Kingdom rank second and third with 11.8% and 4.2% respectively. Since 2015, the United States' share of global crypto developers has dropped by 51%. During the same period, the size of the cryptocurrency market has soared from US$5 billion to US$2.4 trillion, an increase of nearly 480 times.
In addition, while the cryptocurrency industry is often thought to be concentrated in traditional tech hubs such as California and New York, in fact 64% of developers are located outside of these regions. The study analyzed more than 200,000 crypto-related Git commit records involving more than 350,000 code repositories.
