Ethereum Among Top Developed Cryptos: You Won’t Believe #1
![](https://cryptonewswire.org/wp-content/uploads/2022/09/blockchain-developer-jobs-develop-person.jpg.webp)
Development activity plays a crucial role in determining a cryptocurrency project’s potential success and growth. A dedicated team of developers, like Ethereum, consistently working on improvements and innovations enhances a digital asset’s functionality and long-term prospects.
Development activity can be tracked by filtering out redundant updates and noise, focusing on meaningful contributions to a project’s growth.
Key Indicators of High Development Activity
When a project exhibits high development activity, it suggests:
- Confidence in the project’s success.
- A commitment to shipping new features.
- A reduced likelihood of being an exit scam.
Top Blockchain Projects by Development Activity
In the past 30 days, Santiment, a leading crypto analytics platform, has identified several leading blockchain projects in terms of development activity.
Among these projects, 17 of the top 20 are also ranked within the top 100 market cap, indicating a strong correlation between development activity and market performance.
Performance of Top Developed Projects Over Six Months
A comparison of the price returns of the top 20 developed projects over the past six months reveals interesting insights:
- Kusama (KSM) and Polkadot (DOT) both experienced a decline in price, with changes of -12% and -8%, respectively.
- Ethereum (ETH) recorded a significant price increase of +26%.
- Cardano (ADA) and Hedera (HBAR) witnessed minor gains, with +2% and +1% changes, respectively.
- Decentraland (MANA) and Vega Protocol (VEGA) saw price drops of -14% and -17%, respectively.
The top 10 most developed projects had an average 6-month price change of -3%, while projects ranked 11-20 experienced a more significant average price change of -14%.
Development Activity Trends to Watch: Polkadot, Cardano, Ethereum
It’s essential to monitor trends in development activity, as projects with increasing activity levels are often more promising than those with declining activity. For instance:
- The shared Kusama and Polkadot GitHub (red line) have seen a notable increase in development. The continuous improvements on the network make them rank first.
- Cardano (yellow line) continues to experience substantial development. Still, its price hasn’t increased at the same rate as other projects over the past three years.
- Filecoin (peach line) has observed a decline in development activity since the beginning of the year.
![Ethereum Blockchain Development Activity](https://s32659.pcdn.co/wp-content/uploads/2023/04/Screenshot-2023-04-28-at-10.32.58-PM-850x385.png.webp)
Development Activity as a Vital Metric
Development activity is a crucial metric for evaluating a cryptocurrency project’s potential for success and growth. Investors should keep tabs on projects with high development activity to optimize their portfolios.
Blockchains, like Polkadot, Cardano, and Ethereum, with strong development activity are less likely to experience sudden declines, instilling confidence in their long-term prospects.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.