Solana has emerged as one of the best-performing crypto assets in 2023, with its Layer-1 network’s developer ecosystem experiencing consistent growth. The number of developers in the Solana ecosystem increased by over 50% in a three-month period, indicating its growing appeal among developers and the expanding opportunities within its ecosystem.
The Solana Foundation recently reported that this growth targeted developers who made at least one commitment over three months. The entry of 400 to 500 Solana developers biannually, following various training camps, led to a significant 500% increase in job listings throughout the year.
According to GitHub data, the improved retention rate in the ecosystem resulted in a steady count of 2,500 to 3,000 monthly active developers in 2023. The Foundation noted that the development of tools for various programming languages and the provision of additional educational resources supported this positive trend.
Despite being relatively new since the launch of Solana’s mainnet beta in March 2020, the report highlighted Solana’s rapid expansion, becoming the second-largest ecosystem in terms of total monthly active developers.
Solana had a challenging start to 2023 due to its association with the FTX bankruptcy. However, it saw an impressive surge, especially in the fourth quarter, resulting in an over 800% increase from the previous year, solidifying its position as the fifth-largest crypto asset by market value. This development led to a notable recovery in the final months of 2023, with Solana investment products experiencing strong performance and net inflows of $167 million, outpacing Ethereum’s modest $78 million.