Bullish sentiments among Solana cryptocurrency investors increased rapidly as the Solana network managed to attract a large number of cryptocurrency developers to its ecosystem in the last 12 months.
On December 12, 2024, a report by Electric Capital noted that the Solana network successfully attracted a total of 7,625 developers in 2024. This amount of cryptocurrency developer entry into any Crypto blockchain system is the highest, more than the Ethereum blockchain ecosystem.
Here, it is worth noting that Ethereum is still at the top in terms of the number of active Blockchain developers, but notably, 17% of developers left Ethereum. Now Ethereum has a total of 6,244 active developers. Almost more than half of Ethereum developers are involved in Ethereum layer 2 projects. Since 2016, Solana Blockchain became the first to surpass Ethereum in terms of attracting new developers.
It is interesting to note that Asia overtook North America as the leading continent for blockchain developers. Almost 17% of all cryptocurrency developers belong to the Indian jurisdiction.
In addition to all these important activities among cryptocurrency developers, the United States remains the country with the largest developer base, with a 19% share of the global total.
Solana Coin Price Action
The current trading price of Solana coin ($SOL) is $224 and this price level is down almost 2.25% in the last 24 hours.
Cryptocurrency trading analysts noted that the Sol coin has shown resilience, bouncing towards the $230 mark after briefly reaching the $200 zone.
Analysts believe that if SOL coin can maintain the current bullish momentum, then there are high chances that it will easily surpass the $235 threshold and break the current price level and easily reach the all-time high of $264 in the near term. term.
Glassnode co-founders Yan Happel and Jan Allemann found that Solana’s daily Relative Strength Index (RSI) is neutral, which is a great indication that there is scope for upward movement without overbought.
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