With the ongoing market consolidation, prices of most digital assets are down. However, a few crypto projects have buoyed the trend amid the correction momentum.
Santiment recently observed significant shifts in development activity among prominent crypto projects. As a result, it identified a few projects whose on-chain activity resisted the market’s slowdown.
Top 10 cryptos in terms of development activity
- Cardano
According to the latest Santiment data, Cardano emerged at the top place in terms of development activity in the last 30 days, outperforming Ethereum by a small margin.
With a score of 294, Cardano’s continuing upgrades and projects are getting traction. This is supported by its recently upgraded Chang hard fork, which pledged to boost the blockchain’s security and governance. ADA’s victory marks an incredible achievement, highlighting its growth and resilience despite the wider market slowdown.
- Ether
Ethereum becomes the second with a score of 201.8, underscoring its role in the development activity. Despite falling to second place, Ether has been a driving force in the creation of DApps and smart contracts. It owns one of the most proactive developer communities in the crypto landscape.
Ethereum’s continuous improvements and upgrades continue to entice developers to develop dApps on its network, cementing its position as a major digital asset with potential future growth.
- Sui Network
Sui Network scoped the third position with a score of 161.93, reflecting its significant growth in recent months and sustained rally of its native token Sui. The growth is because of an excellent development activity and developer community in the Sui ecosystem.
- Avalanche
Avalanche becomes the fourth best with a score of 154.8, indicating more developer engagement. This showcases an increase in crypto development activity on its blockchain ecosystem. This growth signals a positive trend for its cryptocurrency.
- Solana
This time, Solana took the fifth position with a score of 98.97, though indicating expanded crypto development activity in its ecosystem. Solana’s gaining popularity signals its preference for developers seeking cross-chain development with scalability and speed.
Last month, Solana overtook Ether as the top ecosystem for new developers. It was the first time in eight years that a virtual currency outperformed Ether as the prominent network for development activity.
- Ripple
Ripple took the sixth place with a score of 80.73, indicating its rising attention to exciting developments on its network and increased developer activity. The score highlights recent impressive developer activity on the Ripple blockchain, contributing to a surge of XRP prices.
- Bitcoin
BTC took the seventh position with a score of 67.43, indicating that the BTC ecosystem is also witnessing an increased developer interest. This interest has been driven by innovations such as the Babylon BTC staking protocol, Bitcoin ETFs’ achievement, and the experimentation of the BRC-20 token standard.
The increase in this interest is mainly because of developers trying to look at how expand to Bitcoin’s use cases beyond store of value and payment applications.
Others
Other crypto projects with strong developer activity listed in Sentiment’s data include the following. Lido staked ETH took the eighth position with a score of 54.5. BNB secured position 9 with a score of 44.27. TRON clinched position 10 with a score of 3.03. They have stood out because of their significant growth potential and innovation.
Why development activity is important to investors
Projects with heightened development activity show their long-term sustainability and innovative ability. This indicates that such projects are better placed to tackle security and scalability challenges, adopt innovative technologies, and adapt to market demands.
For crypto investors and users, knowing projects with outstanding development activity enables them to understand which cryptocurrencies are successful in the highly competitive market. Crypto tokens with strong developer activity have the potential to offer significant returns, making them valuable to investors and traders.
