Which zombie chain? Cardano tops blockchains in number of active developers
Cardano has often come under fire from those in the crypto space who have often mocked the apparent “lack of growth” in the network. This has been particularly more prominent when it comes to the decentralized finance (DeFi) part of the blockchain, as it continues to lag well behind its counterparts in the sector. However, the talk of Cardano being a “dead” blockchain could not be further from the truth given the amount of development being undertaken.
One of the most active
The development being carried out on the Cardano network shows how much the blockchain is being worked on. It is in the nature of crypto investors to initially judge blockchains based on the hype they get and not the actual development being carried out, which has not been a good trend for the space.
About two weeks ago, Ethereum maximalist Evan Van Ness had taken to Twitter to call Cardano a zombie chain, mocking the low activity on the network. However, the statistics are in, and Cardano has proven to be one of the networks with the most development.
In the report by Coin98 Analytics, Cardano was the second blockchain with the most active developers. It ranked only behind Ethereum and was ahead of beloved blockchains in the space. It is ranked ahead of big hitters like Solana, Polkadot and Bitcoin.
Rating of active developers:
1. Ethereum
2. Cardano
3. Polka dot
4. Cosmos
5. Solana
6. Near
7. Honor
8. Elrond
9. Bitcoin
10. Polygon
11. Celo
12. Algorand
13. Landslide
14. Waves
15. Optimism
16. Mine
17. Throne
18. Phantom pic.twitter.com/M4dDfFImaG— Coin98 Analytics (@Coin98Analytics) 15 October 2022
Cardano (ADA) on the charts
Over the past year, Cardano has been hit worse than some other blockchains in terms of price. It has fallen more than 88% from its record high price and has not shown the best strength in the bear market so far, but there is still some fight left in the digital asset.
ADA price falls to $0.37 | Source: ADAUSD on TradingView.com
A report by CryptoQuant put the digital asset in an oversold position given its Relative Strength Index (RSI), meaning a recovery could be in the works for the digital asset. But the general market sentiment has not been lucky for the digital asset. There may be more sales of the digital asset in the coming days.
Some indicators have put the price of Cardano below $0.25 before it will mark the market bottom, but in the meantime, the digital asset has been able to hold above $0.35, a point that has become critical support for the cryptocurrency.
The active development on the blockchain paints a bullish case for the cryptocurrency. IOG, the developer behind the Cardano network, has confirmed that there are already 102 projects that have been deployed on the blockchain so far, and there are now 6.4 million native tokens spanning more than 63,000 token policies.
Featured image from Analytics Insight, chart from TradingView.com
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