u.today
Proof-of-stake (PoS) layer-1 (L1) blockchain protocol Cardano (ADA) has sustained its position as the leading network, when profiled by development activity. According to data from crypto analytics platform IntoTheBlock (ITB), Cardano’s GitHub Commits have outranked those of Ethereum (ETH), as well as the other top layer-1 blockchain networks.
Cardano and its peers
According to ITB data, Cardano has recorded a total of 978,780 commits on GitHub between March 11 and 17. This figure places it above its second major rival, Ethereum, whose collated data within the same period comes in at 407,170.
Other featured L1 protocols include Avalanche (AVAX), Litecoin (LTC) and Tron (TRX). While they have also received significant developer commits over the past week, they still lag behind Cardano. The ITB data pegs the commit counts for Avalanche at 315,770, while that of Litecoin and Tron comes in at 84,110 and 79,380, respectively.
Cardano is leading in developer activity amongst top L1s, consistently delivering the highest number of weekly commits. pic.twitter.com/gtYUIyeqRy
— IntoTheBlock (@intotheblock) March 18, 2024
According to some market experts, developer activity serves as a direct reflection of the prospects of the protocol. While not necessarily true, more commits might imply more decentralized applications (dApps) being launched. It also implies updates and upgrades to existing applications, a move that can solidify the resilience of the protocols overall.
Price impact of vommits
With more robust developer activities, the general expectation is that it will translate into a positive uptick in volume and price. However, the opposite trend has been seen in the price of Cardano thus far. The coin has been consistently down below the $1 price mark since April 2022.
At the time of writing, ADA is also changing hands for $0.6085, down by 10.16% in the past 24 hours. Despite the visible bullish GitHub commit data, the coin has given up its gains over the past week, where its price is now down by 18.32%.