Cardano leads the race again – Will ADA hit $5 - ELEVENEWS
Cardano emerged as the blockchain network with the most GitHub development activity in the last week. The Cardano ecosystem is fired up with anticipation for projects that are lined up to launch. Leading...
- Cardano emerged as the blockchain network with the most GitHub development activity in the last week.
- The Cardano ecosystem is fired up with anticipation for projects that are lined up to launch.
Leading proof-of-stake blockchain Cardano has again emerged as the network with the most development activity even as community members excitedly anticipated the launch of several projects in the ecosystem.
Cardano’s GitHub weekly development activity surpassed those of Polkadot/Kusama, Cosmos, and even Ethereum going by data from the networks code repository which saw 490 significant submissions per data pointed out by ProofofGitHub, a Twitter bot powered by Santiment.
— ProofofGitHub (@ProofofGitHub) December 11, 2022GitHub Weekly Development Activity:
#1: 490 Cardano
#2: 424 Polkadot / Kusama
#3: 422 Cosmos
#4: 331 Ethereum
#5: 287 Status
#6: 277 Decentraland
#7: 275 Optimism
#8: 264 Filecoin
#9: 259 Elrond
#10: 254 Internet Computer pic.twitter.com/AEUJsuzLWJ
Cardano has been consistently the most actively developed chain this month. Earlier this month, Santiment also acknowledged that Cardano was the most actively developed network for November.
The surge in Cardano’s GitHub developer activity is coming after the network completed its Vasil hardfork in September, introducing more Cardano Improvement Proposals (CIPs) that have long been awaited by projects building on the network.
The future looks bright for ADA
Several decentralized applications (dApps) have launched or announced their launch dates since the upgrade. Projects that have the Cardano community highly excited include Optim Finance decentralized exchange, algorithmic stablecoin DJed and DJedPay, and eUTxO-based cross-chain decentralized exchange Spectrum Finance.
Optim Finance already launched its SPO Liquidity Bonds product on mainnet earlier this month and is looking to roll out other products such as its Strategy Vaults, Real World Asset (RWA) vaults, and Structured Products for managing CDOs early next month.
COTI, the developers of DJed, have announced that the stablecoin will be launched in January 2023. The stablecoin, which will serve as a much-needed safe haven from volatility and will have on-chain proof of reserve, will hit the ground running with integration on more than 40 DEXs that COTI has partnered with so far.
Meanwhile, the developers of Spectrum Finance noted in an update that the DEX is 73% ready for mainnet launch without giving a date. It is even closer to launching its native SPF token and its yield farming product on the Ergo blockchain.
The launch of these major projects, as well as over 600 other interdependent projects building on Cardano, could have a marked positive effect on the price of Cardano’s native token, ADA, that will see it climb to new price levels.
At press time, the token was trading at around $0.30, up 0.30% in the last 24 hours. This price is a 90.1% drop from its all-time high price of $3.08 reached over a year ago, but ADA faithfuls are optimistic that it can regain these price levels with more adoption.
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