In the fast-paced world of blockchain, where developers flock can make or break an ecosystem, a recent chart from venture capital giant Andreessen Horowitz (a16z) has stirred up quite the conversation. Jesse Pollak, the mind behind Base—an Ethereum Layer 2 solution—shared a post highlighting Ethereum and Base as the top two chains builders are choosing. But not everyone agrees with the methodology, especially those in the Solana camp. This back-and-forth is particularly relevant for meme token fans, as builder activity directly influences where the next viral projects might launch.

The a16z Chart That Started It All

The chart in question comes from a16z's State of Crypto 2025 report, showing "Top Blockchains by Builder Interest." It ranks Ethereum at the top with around 20% interest, followed closely by Base at about 15%, and Solana in third at roughly 14%. The data is based on what founders tell a16z's investment team they're building on or interested in, as of September 30, 2025.

Pollak's post proudly notes, "Ethereum and Base are the #1 and #2 chains founders choose to build on." It's a win for the Ethereum ecosystem, which includes Layer 2s like Base that make transactions cheaper and faster—key for everything from DeFi to meme tokens.

Pushback from Solana Advocates

Enter Matty Tay, co-founder of Colosseum—a platform that runs massive hackathons and accelerators for the Solana ecosystem—and a former Solana team member. In his response, Tay argues that relying on what builders "tell" investors isn't the best gauge. Instead, he suggests looking at hard data like hackathon submissions, GitHub metrics, ecosystem product revenue, and recent startup funding.

"Reality tends to look different when you measure what actually matters," Tay quips. Replies to his post echo the sentiment: one user calls for Colosseum to produce "reports we can trust," while another dismisses a16z's analysis as "based on vibes." It's a classic ecosystem rivalry, with Solana often praised for its speed and low costs, making it a meme token haven.

Exploring Alternative Metrics: Where Solana Shines

Tay's point hits home because different metrics paint a varied picture. Let's break it down with some real data from 2025.

Hackathon Submissions

Hackathons are breeding grounds for innovation, including meme tokens that start as fun experiments. Solana has been killing it here. The Solana Breakout Hackathon in June 2025 saw 1,412 submissions from over 70 countries—the biggest in Solana's history. Earlier, the Solana AI Hackathon attracted over 400 projects, and the Internet of Agents Hackathon in October drew 3,000 developers forming nearly 400 teams.

Ethereum hosts events like Devcon, but specific 2025 submission numbers are harder to pin down in public reports. Still, these Solana events show massive grassroots interest, often leading to meme token launches.

Developer Growth and GitHub Activity

According to the Electric Capital Developer Report, Ethereum added over 16,000 new developers from January to September 2025, leading the pack. Solana wasn't far behind, with about 11,500 new devs joining—a whopping 83% year-over-year growth. Total active developers? Ethereum boasts around 31,869, while Solana sits at roughly 17,708, per various sources like Bitget and CoinCentral.

On GitHub, Ethereum shows strong activity with 15,745 commits across 278 core repositories in recent analyses. Solana's commit activity is competitive, and platforms like Chainspect even rank Solana highest in total developers at 63,000—though methodologies vary, highlighting Tay's call for better metrics.

Ecosystem Revenue and Funding

Revenue tells a story of real usage. Solana generated about $5 billion in annual fee revenue in 2025, with monthly averages around $425 million. That's a massive spike, growing 30x faster than Ethereum's early days, per Yahoo Finance. a16z's report notes Solana's $3 billion in native app revenue over the past year.

Base, as an Ethereum L2, contributes to Ethereum's overall activity, with a 22.5% uptick in activity recently. Startup funding data for 2025 shows crypto overall at billions, but chain-specific breakdowns are sparse—though Solana's ecosystem saw heavy investment in DePIN and NFTs, often overlapping with meme trends.

What This Means for Meme Tokens

For meme token insiders, this debate isn't just academic. Solana's low fees (often under a penny) and high throughput have made it the go-to for pump.fun-style launches, where thousands of memes drop daily. High hackathon activity means more experimental tokens emerging from Solana events.

But if builders are indeed eyeing Ethereum and Base more—as a16z suggests—we could see a shift. Base's cheap blockspace is already boosting NFT and meme activity, potentially drawing creators away from Solana's congestion issues. Yet, with Solana's developer surge and revenue boom, it's poised to keep dominating the fun, viral side of crypto.

Ultimately, as Tay points out, the "reality" depends on what you measure. For meme token builders and traders, keeping an eye on these metrics can help spot the next hot chain. Whether you're team Solana or Ethereum, the competition is heating up—and that's great for innovation.