The Solana (CRYPTO: $SOL) network now has a 23% market share when it comes to blockchain developers.

That’s up from a 6% market share in 2020. The Solana Network has seen a 45% year-over-year increase in its number of active builders.

Importantly, Solana has now overtaken the Ethereum (CRYPTO: $ETH) network when it comes to new developer signups. 

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Ethereum’s share of blockchain developers has declined to 31%, dropping below 35% for the first time since 2022. 

Analysts say the change is due to developer talent consolidating around high-performance chains, and that the Layer 1 competitive landscape has fundamentally reset in Solana’s favour.

In 2020, the Ethereum Network counted 82% of all blockchain developers. But Solana has emerged to rival ETH with fast processing speeds and enhanced security features.

Over the past six years, the Ethereum network has experienced a 51-percentage-point collapse in terms of developer activity. Solana moved in the opposite direction, rising sharply.

In terms of the number of new developers who started working on a network in 2025, Solana attracted 4,100 versus Ethereum’s 3,700.

The Solana network processed 25.3 billion transactions in this year’s first quarter, 125 times Ethereum’s volume over the same three-month period.

Analysts say that the Solana network is benefitting as developers prioritize speed and cost efficiency for real-world financial applications and transactions.

SOL is currently trading at $89.55 U.S. per digital token.