America

United

Shen

Asia has overtaken North America as the leader in cryptocurrency and blockchain development talent, according to a recent report.
Asia’s share of cryptocurrency developers increased to 32% in 2024, up from 13% in 2015, making it the top region for developer talent.
Over the same period, North America’s share of developers was effectively cut in half, dropping to 24% from 44% in 2015, according to Electric Capital general partner Maria Shen, who <a data-ct-non-breakable="null" href="https://x.com/MariaShen/status/1851702779946901968" rel="null" target="null" text="null" title="null">wrote</a> in an Oct. 30 X post:
<blockquote>
 “Asia is now #1 for crypto devs. The US is losing market share. Crypto impacts every state in the US – crypto should be non-partisan.”
</blockquote>
<figure>
 <img alt="Asia takes top spot for crypto developers; US declines" src="https://s3.cointelegraph.com/uploads/2024-10/0192e255-5002-7688-8af3-31dadde9966c" title="">
 <figcaption style="text-align: center;">
 Crypto developers share by continent. Source: Maria Shen
 </figcaption>
</figure>
The geographic distribution of crypto developers often signals the regions poised to drive future blockchain innovation. A growing developer base in any region is a positive indicator of mass adoption of blockchain technology, as it suggests an increase in blockchain-based consumer applications.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-trump-hedge-macroeconomic-all-time-high" rel="null" target="null" text="null" title="null">Bitcoin ‘Trump hedge’ rally lacks macro conditions for all-time high</a>
<h2 id="the-us-still-leads-in-total-crypto-developers">The US still leads in total crypto developers</h2>
Despite 81% of all blockchain developers now residing outside the United States, it still holds the highest number of developers globally.
About 18.8% of all crypto developers are based in the US, followed by India at 11.8% and the United Kingdom third at 4.2%.
<figure>
 <img alt="Asia takes top spot for crypto developers; US declines" src="https://s3.cointelegraph.com/uploads/2024-10/0192e255-c0f9-78b3-917d-ddceed479079" title="">
 <figcaption style="text-align: center;">
 Crypto developers share by country. Source: Maria Shen
 </figcaption>
</figure>
Still, the US has seen a more than 51% drop in developer share since 2015, despite the industry’s continued growth.
Within the US, 22.3% of developers live in California, while 13.7% reside in New York. The lion’s share, or 64% of US developers, live outside of these two states.
<figure>
 <img alt="Asia takes top spot for crypto developers; US declines" src="https://s3.cointelegraph.com/uploads/2024-10/0192e256-15da-7c03-a353-3c938c17c56a" title="">
 <figcaption style="text-align: center;">
 Crypto developer share by top five countries. Source: Maria Shen
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrock-bitcoin-etf-breaks-30-b-etfs1-m-btc-holdings" rel="null" target="null" text="null" title="null">BlackRock Bitcoin ETF breaks $30B; US ETFs set to hit 1M BTC holdings</a>
The researchers analyzed over 200 million crypto-related GitHub commits across 350,000 repositories. Geographical data was sourced from over 110,000 developer wallets with self-reported locations.
Institutional interest in cryptocurrencies has been <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stacks-asia-hex-trust-bitcoin-defi-opportunity" rel="null" target="null" text="null" title="null">on the rise in Asia</a>. In South Korea, the number of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/south-korean-investors-rise-21-cex-profits-up-106-yoy" rel="null" target="null" text="null" title="null">crypto investors rose</a> 21% in the first half of 2024, pushing the cumulative operation profits of the top 21 local <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/centralized-vs-decentralized-crypto-exchanges" rel="null" target="null" text="null" title="null">centralized exchanges (CEXs)</a> to $4.2 billion, marking a year-on-year increase of 106%.<iframe width="100%" height="315" src="https://www.youtube.com/embed/JfsGx4upGFw" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
What Are the Best Countries for Crypto Investors? Source: YouTube
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/india-bitcoin-ban-bingx-hacker-lazarus-asia-express/" rel="null" target="null" text="null" title="null">India mulls new crypto ban to support CBDC, Lazarus Group strikes again: Asia Express</a>

Asia takes top spot for crypto developers; US declines

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