Cardano (ADA) leads the podium in development activity in the last month, with 502.57 commits in its GitHub repository, according to recent data from Santiment.
This metric reflects Cardano’s ongoing commitment to improving and adequately growing its protocol.
Despite a slight decrease in the number of commits compared to the previous month, Cardano demonstrates significant growth in its development activity compared to previous periods.
In second place in the ranking are Polkadot (DOT) and Kusama (KSM), with 484.23 commits in their GitHub repositories.
Both projects also experience an increase in their price, with DOT trading at $4.99 and KSM at $26.34.
1 @Cardano $ADA
T2 @Polkadot $DOT
T2 @kusamanetwork $KSM
4 @hedera $HBAR
5 @AptosLabs $APT
6 @ethstatus $SNT
7 @chainlink $LINK
8 @cosmos $ATOM
9 @ethereum $ETH
10 @vegaprotocol $VEGA pic.twitter.com/JJiW1rH7Cy
— Santiment (@santimentfeed) November 6, 2023
Meanwhile, according to the latest data from CoinMarketCap, Cardano experienced a 2.4% drop in the last 24 hours.
Its current trading price is $0.3457. However, it’s worth noting that it has grown by 18% in the last week.
On the other hand, its market capitalization is around $12.2 billion, and the volume, which has increased by 40%, is about $455 million.
This suggests strong support from the community and investors as these projects progress in their active development.
In addition, Hedera (HBAR) takes third place in the ranking, with 353.67 notable commits on GitHub, closely followed by Aptos (APT) and Status (SNT) with 338.77 and 335.87 commits, respectively.
Market Capitalization Does Not Define the Level of Development
It’s interesting to note that Ethereum (ETH), despite being the second-largest cryptocurrency in terms of market capitalization, ranks ninth in terms of development activity, with 287.67 commits.
This underscores the diversity of projects in the cryptocurrency ecosystem and how market capitalization size doesn’t always reflect development activity.
Development activity is a critical indicator of a project’s long-term health. It shows that the teams behind the projects are actively seeking to improve and expand their capabilities and adapt as the cryptocurrency space evolves.
Development activity is an important factor to consider, as it suggests a continued commitment to innovation and growth.
This is why it represents a key factor to consider when choosing a project to invest in.