BlockBeats news, on October 31, Electric Capital partner Maria Shen released a global encryption developer distribution research report, which showed 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 overtaken by Asia. Beyond. North America’s developer share has dropped sharply, from 44% in 2015 to 24% in 2024. At the same time, Asia’s share climbed from 13% to 32%, becoming the top continent for crypto talent for the first time.
By country, the United States ranks first in the world with a share of 18.8%, while India and the United Kingdom rank second and third with 11.8% and 4.2% respectively. Since 2015, the U.S.’s share of global crypto developers has plummeted by 51%. During the same period, the size of the cryptocurrency market surged from US$5 billion to US$2.4 trillion, an increase of nearly 480 times.
Additionally, while the cryptocurrency industry is often thought of as concentrated in traditional tech hubs like California and New York, 64% of developers are actually located outside of these regions. The study analyzed more than 200,000 encryption-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 and represent different political backgrounds.