According to Alliance DAO data, 84% of funding applicants are building on Solana and Ethereum.
For the first time, Solana surpassed the 25% share mark, signaling a major milestone in its growth trajectory. This figure reflects not only Solana’s increasing popularity but also the changing balance of power within blockchain ecosystems. Ethereum, which had long dominated the founder landscape, now faces a stronger challenger than ever before.
Posting on X Thursday, Solana co-founder Anatoly Yakovenko summed up his reaction in four words: “Hell to the yes.”
From H1 2021 through H2 2023, Ethereum consistently maintained the largest share of founders. At times, more than half of all founders built within the Ethereum ecosystem. This period established Ethereum as the default choice for entrepreneurs entering Web3. However, the past two years have marked a gradual shift away from Ethereum’s near-monopoly, with new entrants increasingly considering Solana as an alternative.
Solana began with a small presence in H1 2021 and gradually lost a share of its founders until H1 2023. Since then, it has grown steadily, reaching over 40% of founders in H1 2025. Despite early skepticism, especially following the FTX crash and the widely circulated but errenous claim by mainstream media that Solana had only 75 developers left, Solana has rebounded as one of the most vibrant ecosystems.
The regional distribution of founders also reveals meaningful shifts:
The global picture suggests a shift from a North America-dominated ecosystem to a more balanced distribution, with Asia and Europe emerging as strong centers of innovation.
These funding trends mirror the shifts in developer activity documented by the Electric Capital 2024 Developer Report. For the first time since 2016, Ethereum lost its eight-year streak as the leading blockchain for onboarding new developers. In July 2024, Solana overtook Ethereum in attracting new developers and maintained this lead through the remainder of the year. Out of 39,148 developers who entered crypto in 2024, Solana captured 19.5%, compared to Ethereum’s smaller share.
Solana attracted 7,625 new developers in 2024, surpassing Ethereum’s 6,456. This included not only newcomers but also established Ethereum developers making the switch. For example, Max Resnick, a former Head of Research at Consensys’ Special Mechanisms Group, joined Anza, a Solana-focused research and development firm. Moves like this highlight Solana’s growing appeal to experienced builders.
Asia accounted for 41% of all new developers in 2024. Within this group, Solana became the most popular blockchain, with 26% of new Asian developers building on its ecosystem. Europe also contributed 26% of new developers, while North America trailed with 19%. India and Nigeria stood out as key growth markets for Solana, with initiatives like Solana Allstars playing a crucial role in building developer communities in Africa.
The convergence of funding and developer trends underscores Solana’s transformation. Once considered at risk of collapse, Solana now leads in both founder share and developer onboarding. Meanwhile, Ethereum remains a dominant force but faces growing competition as other ecosystems mature. With founder activity expanding globally and regional diversity increasing, the blockchain industry is entering a new phase of decentralized growth and innovation.
