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Despite not being placed first, both Chainlink and Cardano show a respectable amount of development activity. Both assets have been traditionally considered among the most actively developed cryptocurrencies in the industry. But how does that affect their prices and growth in general?
The most recent data indicates that Chainlink has risen to second place, while Hedera continues to lead in terms of development activity. The methodology for this ranking involves tallying all nonredundant project activity and calculating the average daily activity for the previous 30 days. The list's arrows show how the rankings have changed since the previous month's update:
- Hedera (HBAR)
- ChainLink (LINK)
- Optimism (OP)
- Internet Computer (ICP)
- Cardano (ADA)
- Status (SNT)
- Cosmos (ATOM)
- zkSync (ZK)
- Starknet (STRK)
- Aptos (APT)
It is clear that Chainlink and Cardano are being actively developed, but let's look at how they performed on the market. With a current price of $14, Chainlink has increased by 5.14% recently. Its volume has also increased significantly by 40%, indicating a rising number of traders.
Technically, if Chainlink can break through these resistance levels, it may be on the verge of an upward trend. It is currently approaching its 50 EMA at $15.27, with the 100 and 200 EMAs above it.
At $0.4, Cardano's price has increased by around 3-4% in the last three days. According to the chart, Cardano is up against the resistance at $0.42, which is the 50 EMA. The 100 and 200 EMAs would be the next targets if it could overcome this level.
Due to their development efforts, which boost investor confidence and stimulate market interest, both Chainlink and Cardano can profit. Long-term investors find them appealing because their active development indicates possible future improvements.