dailyhodl.com
A blockchain analytics platform is revealing that over the past 30 days, Polkadot (DOT), Kusama (KSM) and Cardano (ADA) have emerged as the top-three crypto assets in development activity.
According to Santiment, the three smart contract-enabled blockchains all recorded over 400 GitHub commits over the last 30 days.
Commits are cryptographic algorithms that maintain the confidentiality of a value while permitting later disclosure.
Both Polkadot and Kusama saw 606.5 GitHub commits each, while Cardano’s figure was 461.47 commits.
Santiment says that the level of development activity of a crypto asset indicates that developers have faith it will be successful. A high development activity level also indicates that a crypto project is shipping new features while also increasing the possibility that it is not an “exit scam”, according to the blockchain analytics platform.
Other crypto assets featuring among the top twenty by development activity are the fourth-placed interoperable blockchain ecosystem Cosmos (ATOM) and the fifth-placed enterprise blockchain Hedera (HBAR). Ethereum (ETH) ranked eighth by development activity.
Others in the top 20 by development activity over the past 30 days include decentralized applications (DApps) blockchains Aptos (APT) and Avalanche (AVAX), blockchain oracle Chainlink (LINK) as well as decentralized exchange Uniswap (UNI).
Santiment further says there’s a correlation between a crypto asset’s market cap and the level of development activity.
“It’s no coincidence that 17 of these 20 leading assets are ones that are in the top 100 market cap. There is a high correlation between assets that are amongst the leading price gainers over a long period of time, and those that have the most dedicated teams to advance the asset’s presence in the space.”
Generated Image: Midjourney