In 2024, Ethereum's developer ecosystem has maintained its lead globally, with the blockchain platform continuing to attract the highest number of developers on every continent, including the US, China, Canada, and the UK. However, Solana has emerged as a significant contender, surpassing Ethereum in attracting new developers, with an 83% increase in new developers compared to Ethereum's 6,244. Despite this, Ethereum remains the dominant platform with a stable developer base of 23,613 monthly active developers in November, a slight decline of 7% year-over-year. The year has been marked by significant developments for Ethereum, including the approval of ETH ETFs, the Dencun upgrade reducing Layer 2 costs, and a record pace of Layer 1 research and development. Ethereum's supply dynamics are also shifting, with the total supply reaching 120 million ETH, its highest since April 2023, and an increased burn rate creating deflationary pressure. This, combined with growing institutional demand through spot ETFs, could set the stage for Ethereum to break the $5,000 mark for the first time, according to CryptoQuant's analysis.