Cardano Leading Bitcoin, Ethereum, Polkadot and Two Altcoins in One Metric: Analytics Firm Sentiment
Crypto analytics firm Santiment highlights the continued growth of decentralized blockchain platform Cardano (ADA) as it outperforms several key competitors.
According to a new post, the data aggregator showcases Cardano’s impressive number of GitHub repositories compares to lower numbers from tier-1 developer tool Flow (FLOW), cross-chain interoperability protocol Polkadot (DOT) and its associated testnet Kusama (KSM), as well as leading smart contract platform Ethereum (ETH).
“Cardano reigns as the most developed asset in crypto, according to our analysis of code pushes, issue interactions and more.
Routine team updates are excluded to ensure only relevant developments are included.”
Just three weeks ago Santiment noted the rapid pace of development on GitHub, with the latest data indicating that Cardano is maintaining momentum.
Santiment Chief Technology Officer Valentin Mihov explained the importance of tracking GitHub activity in a blog post by saying:
“Developer time is a relatively expensive resource, and if a given project has many developers dedicating their time and skills, this can mean several things:
These people believe that the project will be successful, the project ships more features, [or] it is less likely that the project is just an exit scam.”
At the time of writing, Cardano is riding the wave of a widespread mid-week market rally, up 8.62% in the last 24 hours and trading at $0.50.
Sentiment also recently pointed out that distributed ledger XRP Network (XRP) has the most unique active addresses in nearly two and a half years. In total, there have been five significant network spikes in the past week.
“The XRP Network has just reached a major milestone.
The amount of unique addresses currently interacting on the network has exceeded 247,000 in just a 4-hour window. This is the highest increase recorded since February 2020.
New XRP addresses created remain stable.”
XRP is up 6% on the day with a market cap of $0.35 at the time of writing.
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Featured image: Shutterstock/WWoronin
