Cardano Among Cryptocurrencies With Highest 30-day Development Activity


Cardano (ADA), along with Polkadot (DOT) and Kusama (KSM), has been identified by crypto analysis firm Santiment as having the most development activity in the past 30 days. 

In addition, the three projects have recorded the highest number of notable GitHub commits within the same timeframe. It is worth mentioning that DOT and KSM are in a tie for first place, while Cardano (ADA) holds the third-highest score.

Additionally, it’s worth noting that this isn’t the initial instance where the three ventures have secured the top position. They had previously held comparable positions in February, with DOT, KSM, and ADA leading the way. 

Read Also: Cardano Sees 12.04% Dip in the Last 7 Days, Can Messari’s Report Push Value Up?

The current outcomes underscore these protocols’ persistent efforts in their respective ecosystems. Consistent advancements are a promising signal for any project, indicating that it has not fallen behind in an industry known for its rapid pace of change.

Will Increased Development Cause Price Surge for Cardano, Kusama, and Polkadot?

Santiment asserts that development activity strongly correlates with better price performance, as lower-ranked projects generally exhibit weaker average performances. However, there are exceptions to this rule. 

Cardano (ADA), despite demonstrating a significant amount of development activity, has not experienced substantial price movement and is currently down by a staggering 86.67% from its all-time high of $3.09. 

Nevertheless, since the start of 2023, ADA has increased by approximately 66%, in line with the broader cryptocurrency market’s signs of recovery. According to Santiment, “Monitoring development activity is just one of many metrics to consider while optimizing your portfolio.” However, the metric is not conclusive.

Read Also: 3 Reasons Why Cardano (ADA) Would Remain Bullish Until the End of April

As of the time of writing, Cardano (ADA) is trading at $0.410, up 3.2% in the past 24 hours. Kusama (KSM) is trading at $31.13, down 0.5% in the past 24 hours, while Polkadot (DOT) is trading at $5.95, down 1.5% in the same period.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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