Ethereum Among Top Developed Cryptos: You Won’t Believe #1

Development activity plays a crucial role in determining a cryptocurrency project’s potential success and growth. A dedicated team of developers, like Ethereum, who consistently work on improvements and innovations improves the functionality of a digital asset and its long-term outlook.

Development activity can be tracked by filtering out redundant updates and noise, focusing on meaningful contributions to a project’s growth.

Key indicators of high development activity

When a project shows high development activity, it suggests:

• Confidence in the project’s success.
• A commitment to ship new features.
• A reduced likelihood of being an exit scam.

Top Blockchain Projects by Development Activity

Over the past 30 days, Santiment, a leading crypto analytics platform, has identified several leading blockchain projects in terms of development activity.

Among these projects, 17 of the top 20 are also ranked within the top 100 market values, indicating a strong correlation between development activity and market performance.

Execution of highly developed projects over six months

A comparison of the price returns of the top 20 developed projects over the past six months reveals interesting insights:

• Kusama (KSM) and Polkadot (DOT) both experienced a price decline, with changes of -12% and -8% respectively.
• Ethereum (ETH) recorded a significant price increase of +26%.
• Cardano (ADA) and Hedera (HBAR) experienced smaller gains, with +2% and +1% changes respectively.
• Decentraland (MANA) and Vega Protocol (VEGA) saw price drops of -14% and -17% respectively.

The 10 most developed projects had an average 6-month price change of -3%, while projects ranked 11-20 experienced a more significant average price change of -14%.

Development activity trends to watch: Polkadot, Cardano, Ethereum

It is important to monitor trends in development activity, as projects with increasing levels of activity are often more promising than projects with declining activity. For example:

• The shared Kusama and Polkadot GitHub (red line) has seen a noticeable increase in development. The continuous improvements on the network mean that they rank first.
• Cardano (yellow line) continues to experience significant development. However, the price has not increased at the same pace as other projects in the last three years.
• Filecoin (peach line) has observed a decrease in development activity since the beginning of the year.

Development activity as a vital metric

Development activity is a crucial benchmark for evaluating a cryptocurrency project’s potential for success and growth. Investors should keep an eye on projects with high development activity to optimize their portfolios.

Blockchains, such as Polkadot, Cardano and Ethereum, with strong development activity are less likely to experience sudden downturns, which instills confidence in their long-term prospects.