As 2023 begins, development teams across the primary blockchain networks are building and expanding throughout their ecosystems, while the crypto industry continues to reassemble from the devastation created by the FTX meltdown. Additionally, the time given for the development of these projects is a resource that can be considered quite pricey, as projects garnering a large number of developers who volunteer their time & expertise might indicate towards the project’s overall positive growth.
5 Cryptos With Highest Development
According to the data provided by Santiment, Polkadot (DOT) and Kusama (KSM) share the lead for the most development activity on GitHub as of the 25th of January. Operating on a proof-of-stake mechanism, Cardano (ADA) with a score of 337, came in at number three in terms of its development activity.
GitHub, for the unaware, is a cutting-edge software that facilitates collaboration between individual programmers and groups of programmers working on a single project. The use of this platform in the crypto sector has been on the rise, and it is used by a wide range of people from coding specialists to beginners throughout the world. For instance, this system is used by all emerging crypto initiatives to facilitate the linking of disparate concepts and programs.
Decentraland (MANA), Status (SNT), and Cosmos (ATOM) rounded out the top five cryptos by virtue of their development activity recorded on Github. Meanwhile, Filecoin (FIL), Internet Computer (ICP), Ethereum (ETH), and Concordium (CCD) concluded the list of top 10 cryptocurrencies.
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Token Price Mimics Dev Activity?
However, it’s to be noted that, Kusama is Polkadot’s sister chain for experimental development and early-stage deployments, and therefore shares the same score for development activity. Cardano, on the other hand, has maintained its top three spot consecutively for the past few months. This has also reflected positively on Cardano’s (ADA) price, which has seen a rise of roughly 50% in the past 30 days and 8% in the last seven days.
Decentraland, a leading Web3 metaverse project, has also seen a recent price increase of 73%, which has brought the altcoin back to its pre-FTX collapse level. Other projects that were mentioned on the list, such as ICP, ATOM, and FIL, also witnessed significant increases in their valuations during the past few weeks, with respective increases of 53%, 45%, and 78%.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.