On Friday, one of Ethereum’s competitors shot to the top of the charts in terms of daily development activity on the development hosting platform GitHub. A chart released by the Twitter account ProofofGitHub, which is powered by the crypto analytics firm Santiment, showed that Cardano (ADA) was leading all other crypto projects in daily GitHub development activity.
The chart showed that Cardano had 824 submissions, followed by Internet Computer (618), ChainLink (616), Polkadot/Kusama (577), Ethereum (562), Status (456), Filecoin (397), Cosmos (395), Optimism (381), and IOTA (358). Earlier this week, Santiment noted that Cardano ranked third among all crypto projects in terms of GitHub submissions over the past 30 days, behind interoperability blockchain Polkadot (DOT) and its sandbox Kusama (KSM).
The analytics firm states that a high amount of development activity happening in blockchain ecosystems can signal that people believe in its future. On Friday, the development team behind Cardano, Input Output Hong Kong (IOHK), announced that the project’s networking team had fixed P2P code issues and released updated network packages this week.
At the time of writing, ADA is worth $0.365 and is down more than 4% in the past 24 hours. Despite this, the seventh-ranked crypto asset by market cap is up by 46% since the start of 2023, when it was trading around $0.25. ADA remains more than 88% down from its all-time high of $3.09, which it hit in September 2021.
The rise of Cardano in terms of daily development activity on GitHub is a sign of the project’s progress, as well as its potential to become a key player in the crypto space. With its focus on scalability and interoperability, Cardano could become an important tool for developers and businesses.
However, it’s important to note that the success of any crypto project depends on more than just development activity. Price action, adoption, and the team’s ability to execute its vision are all important factors that will determine whether a project succeeds or fails.
In order to stay up to date with the latest news and developments in the crypto space, it’s important to subscribe to crypto email alerts and follow cryptocurrency-related news outlets on social media. Additionally, it’s important to keep track of price action in order to spot potential opportunities or risks.
In conclusion, Cardano’s rise to the top of the charts in terms of daily development activity on GitHub is a sign of the project’s progress and potential. However, its success will depend on more than just development activity, and investors should do their due diligence before making any high-risk investments in the crypto space.
