Asia Leads in Crypto Developers While the U.S. Continues to Lose Ground

We analyzed over 110,000 developer profiles to understand the geographic distribution of crypto developers. The data reveals three key findings:

• Asia has become the #1 region for crypto developers for the first time, while North America's share continues to decline.
• By country, the U.S. has the largest developer share, but continues to lose its share of crypto developers.
• Crypto developers live in every U.S. state – crypto should be non-partisan.

Asia is the #1 Continent for Crypto Developers

Asia has overtaken North America as the top region for crypto developers. Since 2015, North America's share of crypto developers has dropped from 44% to 24%, while Asia's share climbed from 13% to 32%. Asia is now the #1 continent for crypto developers.

U.S. Still Leads by Country, but Continues to Lose Developer Share

The U.S. still leads by country with 19% of the world's crypto developers, followed by India at 12% and the U.K. at 4%.

U.S. developer share dropped 51% since 2015 while crypto grew from $5B to $2.4T in market size. Now, 81% of crypto developers live outside the U.S. shaping the future of digital money. This is both an innovation drain and a national security concern for the U.S.

Without clear crypto policy, the U.S. is at risk of continuing to lose its edge in this high-growth industry.

Crypto Developers Live in All 50 States

California and New York have the highest concentration of crypto developers in the U.S. as established tech hubs with large populations. However, crypto developers extend beyond California and New York.

64% of U.S. crypto developers live outside these states. This distribution offers opportunities for job creation and economic growth across the country. Policymakers should view crypto as a nonpartisan issue since developers reside in every state, representing all political backgrounds.

Methodology

Electric Capital's analysis covers over 200 million crypto-related git commits across 350,000+ repositories. Our location data comes from over 110,000 developers with self-reported locations out of over 366,000 crypto developers since 2009.

This update is a short preview of the data we will share in our upcoming 2024 Developer Report. Data collection comes from more than 700 contributors to our open source taxonomy of crypto repositories. As our data collection continues, data results may change in the final report.

See our past year's geography report here.