Blockchain
Development activity plays a vital role in determining the potential success and growth of a cryptocurrency project. A dedicated team of developers, like Ethereum, consistently working on improvements and innovations improves the functionality and long-term prospects of a digital asset.
Development activity can be tracked by filtering out unnecessary updates and noise, focusing on meaningful contributions to a project’s growth.
Key indicators of high development activity
When a project shows high development activity, it suggests:
- Confidence in the success of the project.
- A commitment to deliver new features.
- A reduced chance 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 development activity.
Of these projects, 17 of the top 20 are also ranked within the top 100 by market capitalization, indicating a strong correlation between development activity and market performance.
Performance of best-developed projects over six months
A comparison of the price return of the top 20 developed projects over the past six months yields interesting insights:
- Kusama (KSM) and Polkadot (DOT) both experienced price declines, with changes of -12% and -8% respectively.
- Ethereum (ETH) registered a significant price increase of +26%.
- Cardano (ADA) and Hedera (HBAR) witnessed small gains, with +2% and +1% changes respectively.
- Decentraland (MANA) and Vega Protocol (VEGA) saw price decreases of -14% and -17% respectively.
The top 10 most developed projects had an average price change over 6 months 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 is essential to monitor development activity trends, as projects with increasing activity are often more promising than projects with declining activity. For example:
- The shared Kusama and Polkadot GitHub (red line) has seen a notable increase in development. The continuous improvements on the network put them in first place.
- Cardano (yellow line) continues to undergo substantial development. Yet the price has not risen at the same pace as other projects over the past three years.
- Filecoin (peach line) has seen a decline in development activity since the beginning of the year.
Blockchain development activity. Source: Sentiment
Development activity as a vital measure
Development activity is a crucial metric for evaluating the success and growth potential of a cryptocurrency project. Investors should keep an eye on projects with high development activity to optimize their portfolios.
Blockchains, such as Polkadot, Cardano and Ethereum, with strong development activity are less likely to experience sudden drops, inspiring confidence in their long-term prospects.