CandleFocus Electric Capital: 81% of Crypto Developers Now Based Outside the US
2024-11-01
Author: Content Editor
A study by Electric Capital reveals that the proportion of cryptocurrency developers in the US has significantly declined over the past decade. The US still leads in terms of the proportion of developers, but this position may be lost if policies encouraging crypto development are not strengthened. The study analyzed over 110,000 developers worldwide and found that the top three countries in terms of developer proportion are the US, India, and the UK. However, the US's proportion has dropped by 51% over the past decade, with 81% of crypto developers now living outside the US. This decline in developer activity comes at a time when the number of tokens continues to increase, creating a paradox. The study highlights the need for a clear crypto policy in the US to maintain its position as a leader in the crypto market.
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