Bitcoin vs. Ethereum One Wins Developers, the Other Investor Cash
Ethereum continues to dominate the blockchain development space, with 1,695 active developers as of June 2025.
Analyst Leon Waidmann shared data from Onchain Foundation showing Ethereum significantly ahead of rival networks. Solana placed second with just 533 developers.
Ethereum Boasts Over 3x More Active Developers Than Nearest Rival
The data ranks the top 10 blockchain ecosystems by active developer participation. Ethereum sits at the top with over three times more contributors than its closest competitor.
This significant lead reinforces Ethereum’s role as the most robust and engaged platform for decentralized application (dApp) and smart contract development.
Solana follows with 533 developers, while Cosmos Network Stack records 473. Foundry and Polkadot Network are next with 448 and 427 developers, respectively. Other ecosystems in the ranking include Cosmos (412), Bitcoin (367), BNB Chain (389), and Polygon (302).
Developer Count Signals Ecosystem Vitality
Developer activity is a key metric of a blockchain’s long-term viability. A high number of developers suggests strong community engagement, frequent updates, and a growing ecosystem. Ethereum’s dominant presence reflects its continued relevance and capacity to attract builders.
Its consistent upgrades, scalability initiatives, and support for layer-2 rollups have kept developers actively involved. Ethereum’s transition to proof-of-stake, alongside efforts to reduce gas fees and improve transaction throughput, likely contributes to the high developer count.
Solana and Cosmos Show Steady Developer Ecosystem Expansion
While Ethereum leads by a large margin, other blockchains are also expanding. Solana, known for its high-speed and low-cost transactions, also gained traction among developers building Web3 applications. Cosmos, with its modular architecture and interchain connectivity, continues to grow steadily and now supports hundreds of projects.
Foundry, which offers development tools and frameworks for Ethereum-compatible chains, has also emerged as a strong player. Its presence among the top five highlights the growing need for robust infrastructure and developer support tools.
Despite its status as the first and most valuable cryptocurrency, Bitcoin ranked seventh in developer activity. Its limited use case and slow pace of innovation contribute to its lower ranking. Bitcoin development tends to focus on protocol security and scalability rather than application-level growth.
Investor Interest Tells a Different Story: Bitcoin Leads Weekly Fund Flows
Meanwhile, weekly investors’ interest paints a different story. Blockchain investment trends reveal a compelling mix of dominance and diversification across major ecosystems. Data from Messari reveals that Bitcoin has attracted 50% of total investor funds in the past week.
Meanwhile, Solana followed as a strong contender, drawing in 20% of total investments. With its reputation for high throughput, low fees, and a rapidly expanding developer ecosystem, Solana is positioning as a viable alternative for building scalable dApps.
Notably, the remaining 30% of investments were evenly distributed among three emerging ecosystems, Hyperliquid, Aptos, and Merlin Chain. Each ecosystem captures 10% of the total funding. This signals a growing investor appetite for innovative, next-gen platforms that could solve long-standing issues like speed, scalability, and interoperability.
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