Blockchain analytics firm Santiment recently reported that Cardano (ADA) has reclaimed the top spot in a ranking of development activity. In the past 30 days, Cardano recorded 611.47 notable GitHub commits, surpassing other crypto projects.
This is a significant achievement for Cardano as it was previously trailing behind Polkadot (DOT) and its canary test network, Kusama (KSM). Both Polkadot and Kusama currently have 500.67 GitHub commits in the past 30 days, tied for second place in the rankings.
High levels of development activity indicate that developers have confidence in the longevity of the blockchain and that new features may be coming soon to the project’s ecosystem. It showcases the continuous effort and innovation taking place within the Cardano community.
At the time of writing, ADA is trading at $0.251, experiencing a decrease of over 2% in the last 24 hours. Despite the price fluctuation, the strong development activity suggests that there is ongoing progress and potential for future growth within the Cardano network.
Related Post
Santiment also analyzes the supply of Bitcoin (BTC) on crypto exchanges and has observed a significant decrease. The supply of BTC on exchanges is currently at 5.68%, the lowest level in almost six years.
This low level of Bitcoin supply on exchanges is noteworthy as it indicates that market participants are holding onto their BTC for the long term rather than selling it. This could minimize the impact of future sell-off events, as there is less BTC available for immediate trading.
Santiment further explains that recent data shows a significant movement of over 10,000 BTC off exchanges since September 7th. This suggests that investors are actively securing their BTC holdings and highlights the potential increasing value of Bitcoin.
Currently trading at $27,587, Bitcoin has experienced a slight decrease of 1.2% in the last 24 hours. However, the decrease in supply on exchanges, coupled with the movement of significant BTC amounts, indicates a strong belief in the long-term value and utility of Bitcoin.
In summary, Cardano’s recent achievement in reclaiming the top spot in development activity highlights the dedication and progress within the Cardano community. The continuous effort to improve and innovate the ecosystem demonstrates developers’ confidence in the blockchain’s future. The decreasing supply of BTC on exchanges also suggests a positive outlook for Bitcoin’s long-term value. These developments and trends shape the evolving landscape of the cryptocurrency market, bringing potential opportunities and growth for investors and enthusiasts.
