Data from Santiment shows Polkadot is the #1 cryptocurrency in the market for the past month based on development activity.
Polkadot Sees the Best Development Activity in the Last 30 Days
According to data from an on-chain analytics company Holy, Polkadot (DOT), Kusama (KSM), and Cardano (ADA) are the top three on the development activity list. “Development activity” here is a metric measured using the work done by project developers on public GitHub repositories.
This work is measured by the number of “events,” where events refer to actions like pushing a commit, creating an issue, creating a repository, creating a pull request, etc.
Some other versions of this indicator generally use only the total number of commits in GitHub projects as a way to measure development activity. However, this method may not be entirely accurate; the reason behind the fact that everyone forks the project (a “fork” actually refers to a copy of the code), all original project commits are also inherited by this fork.
Since the developers who created the fork will not be responsible for the work done by the original team, the total number of commits will produce a false picture of the activity of these new developers.
Since Santiment metrics use events to measure activity, a fork is considered to be only 1 new event, and thus the developer’s work is represented more accurately.
Currently, the following is a table showing the top 10 cryptocurrencies in the sector based on their respective development activities:
Looks like Ethereum is only 9th on this list | Source: Santiment on Twitter
As shown in the table above, Polkadot has been the digital currency that has seen the most development activity in the last 30 days. Kusama is also actually tied with DOT for first place, as the value of the indicator is 441.5 for both coins during the period.
Cardano ranked at the top of the list one month ago, but it seems that the project has slowed down a little this month because it has dropped to the third place now.
Previously, Ethereum was in sixth place in the table, but the second largest crypto by market cap is now in ninth place, which means that ETH developers have also done less work this month on public repositories.
The importance of development activities is that they can provide clues as to whether there is a strong commitment behind the project or not.
Cryptocurrency projects that see high activity can mean that they are constantly updated and receive new futures, which can attract users to the network and thus help build the foundation for a long-term future. Currently, it seems that Polkadot is the project that gets the most attention from developers.
DOT price
At the time of writing, Polkadot is trading around $6.18, up 4% over the past week.
The value of the asset seems to have declined over the past day | Source: DOTUSD on TradingView
Featured images from Traxer on Unsplash.com, charts from TradingView.com