Crypto Devs Are Back in Force—Ethereum Still Dominates the Innovation Game

After years of hype cycles and brutal bear markets, developer activity in crypto has quietly clawed back to 2018 levels. The twist? Ethereum isn’t just holding its ground—it’s eating the competition’s lunch.

The Ghost of Bull Runs Past

Remember when every VC deck promised ’the next Ethereum killer’? Turns out, the original smart contract platform still commands a staggering share of meaningful code commits—despite the gas fees that make bankers blush.

Builders, Not Gamblers

While retail traders chase the latest memecoin, core devs are shipping infrastructure at pre-crash velocity. Layer 2s, ZK proofs, and account abstraction aren’t sexy headlines—but they’re what actually moves the needle.

Here’s the kicker: this resurgence isn’t fueled by blind speculation (for once). Real-world asset tokenization and institutional-grade DeFi are quietly becoming the north stars. Maybe—just maybe—Wall Street’s ’blockchain, not Bitcoin’ crowd will finally get what they asked for… only to realize it runs on ETH.

Ethereum still ahead of Solana in terms of code commits

Ethereum is still ahead in terms of CORE developers and commits compared to Solana. The L1 chain is trying to work out scalability issues, and has always kept a broad team of developers. 

The Ethereum network still has around 200 active developers, expanding in Q1, 2025. 

Solana saw a constant outflow of core developers, and is down to 50 in the week of May 5. 

Solana also achieves under 100 weekly commits, with a noted slowdown in the past months. Ethereum still keeps up the pace with 200 to 300 weekly commits. 

Projects lag, but market remains hot for individual crypto developers

What turns out as a paradox is that while projects are lagging, individual developers held their ground in 2024. Top projects still demand Web3 developers, with Tether currently on a hiring spree. 

Over 24K active monthly developers were registered in 2024, of which 18.8% were based in the USA, the leading location for new projects. In 2024, the trend also shifted to established developers, while newcomers and part-time developers were driven away as the market slowed down. 

One of the reasons for the outflow of developers was the appearance of platforms that automated most of the tasks in crypto, especially token creation. Launchpads, automated listings and other infrastructure, as well as ready-made smart contracts meant fewer tasks for teams. 

Meme cults also started displacing utility projects. The market also viewed some of the developer activity with skepticism, as the end products did not reflect the initial project hype. Some projects, like ICP, Cardano, and Polkadot, post highly active commit histories, but lag behind major networks in terms of active users and product-market fit.

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