TechFlow news, October 31 — Maria Shen, partner at Electric Capital, released a global cryptocurrency developer distribution research report showing that through analysis of over 110,000 developer profiles, Asia has surpassed North America in share of crypto developers. North America's share has sharply declined from 44% in 2015 to 24% in 2024. Meanwhile, Asia's share has risen from 13% to 32%, becoming the leading continent for crypto talent for the first time.
By country, the United States leads globally with a 18.8% share, followed by India and the United Kingdom at 11.8% and 4.2% respectively. Since 2015, the U.S. share of global crypto developers has plummeted by 51%. During the same period, the cryptocurrency market size surged from $5 billion to $2.4 trillion, an increase of nearly 480 times.
In addition, although the cryptocurrency industry is often perceived as concentrated in traditional tech hubs like California and New York, in reality, 64% of developers are located outside these regions. The study analyzed over 200,000 crypto-related Git commits across more than 350,000 code repositories.
