A new report by a16z crypto highlights a defining trend for 2025: the crypto industry is now fully multichain, with Ethereum, Solana, and Bitcoin leading in both builder interest and developer activity.
The data, collected from a16z investment analyses and GitHub repositories as of September 30, 2025, shows Ethereum far ahead of all competitors. The network and its Layer-2 ecosystem (including Base, Arbitrum, and Optimism) continue to dominate innovation, attracting the most developers and projects across DeFi, gaming, and tokenization.
Crypto is multichain. pic.twitter.com/hsut9JroLv
— a16z crypto (@a16zcrypto) October 27, 2025
On the left chart, Ethereum ranks #1 in builder interest, followed by Base, Solana, Bitcoin, and Polygon. On the right, Ethereum also tops the list for monthly open-source developers, with Solana and Bitcoin in second and third place respectively. Other notable entries include Cosmos, Polkadot, and Sui, reflecting growing diversity across blockchain ecosystems.
The findings underline how the crypto landscape has evolved from a single dominant chain to a cooperative multichain environment. Builders are now prioritizing interoperability, scalability, and real-world applications, with cross-chain solutions becoming a core focus of 2025’s infrastructure boom.
As institutional tokenization, stablecoin payments, and on-chain finance expand, developer concentration around Ethereum and Solana signals where the next wave of blockchain utility is most likely to emerge.