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Cardano Ecosystem

Bitcoinist

12/27/2023

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Cardano (ADA) Is Back As Number 1 Crypto In This Metric

Data shows Cardano (ADA) has reclaimed the number 1 spot in the cryptocurrency sector in terms of development activity. Cardano Has Surged To Number One On Development Activity List In a new post on X, the...

Cardano (ADA) Is Back As Number 1 Crypto In This Metric

Data shows Cardano (ADA) has reclaimed the number 1 spot in the cryptocurrency sector in terms of development activity.

Cardano Has Surged To Number One On Development Activity List

In a new post on X, the on-chain analytics firm Santiment has shared an update on the list of top cryptocurrencies based on the “development activity.” The development activity here refers to the total amount of work that the developers of a given project have put in over the past 30 days.

The metric makes this measurement through the data of the public GitHub repository of the project. In these repositories, any kind of change a developer makes is counted as a “commit.”

Santiment’s development activity, however, doesn’t use the number of these commits for measuring the work done, as it can provide a skewed representation of the actual work.

This is due to the fact that many projects are forks of other projects, meaning that up until the point of forking, they have a copy of the previous project’s work. The commits from the previous project naturally carry over, as well, but these commits wouldn’t be relevant to the work done by the new team.

To provide a more accurate picture of the team’s work, the development activity indicator makes its measurement in terms of “events.” Anything done on the project, like the push of a commit or the creation of an issue, generates an event.

Forking a project also doesn’t lead to an inheritance of its events and the act of forking as a whole generates just a single event. Thus, the problem involved with counting commits doesn’t exist in this case.

Now, here is a table that shows the data for the top ten cryptocurrencies in the sector based on their respective development activities:

Cardano Development Activity

Looks like ADA is at the top of this list at the moment | Source: Santiment on X

As displayed above, Cardano has improved its ranking on the list during the past month, claiming the number one spot. In total, the project has seen its developers generate 540 events in this period.

Earlier, Polkadot (DOT) and Kusama (KSM) were ahead of ADA on the list, sharing the joint first place. With about 358 events each, these assets have fallen behind ADA now.

Avalanche (AVAX) and Internet Computer (ICP) have also improved their rankings in this window to fourth and fifth, respectively, suggesting that their developers have been putting relatively more effort into the projects.

The development activity can be one of the things to watch for when deciding whether a project has any potential in the long term or not. Exit scams may have low development activities, while legitimate projects usually have committed developers.

As Cardano has seen its developers put more effort into the project recently, it may be a bright sign for the future of the cryptocurrency, at least in terms of the blockchain continuing to improve its features.

ADA Price

Cardano has recently lost its bullish steam as the cryptocurrency’s price has been stuck in sideways movement during the last couple of weeks. At present, the coin’s price is floating around $0.614.

Cardano Price Chart

Cardano hasn't shown much volatility recently | Source: ADAUSD on TradingView

Featured image from Traxer on Unsplash.com, charts from TradingView.com, Santiment.net

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