Development activity plays an important role in determining the success and potential growth of a cryptocurrency project. A dedicated team of developers, like Ethereum, is constantly working on improvements and innovations that enhance the 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 project growth.
The main indicators of high developmental activity
When a project shows high development activity, it suggests:
- Confidence in the success of the project.
- Commitment to shipping new features.
- Low probability of being an exit scam.
Top Blockchain Projects by Development Activity
In the past 30 days has Santiment, the leading crypto analytics platform selected Several leading blockchain projects in terms of development activity.
Among these projects, 17 of the top 20 projects are also ranked in the top 100 by market value, indicating a strong correlation between development activity and market performance.
Performance of best developed projects over a period of six months
A price-return comparison of the top 20 projects developed over the past six months reveals interesting insights:
- Kusama (KSM) and Polkadot (DOT) both saw price declines, with changes of -12% and -8%, respectively.
- Ethereum (ETH) recorded a significant price increase of +26%.
- Cardano (ADA) and Hedera (HBAR) saw slight gains, with +2% and +1% changes respectively.
- Decentraland (MANA) and Vega Protocol (VEGA) saw price declines of -14% and -17%, respectively.
The 10 most developed projects saw a 6-month average price change of -3%, while projects ranked 11-20 saw the most significant average price change of -14%.
Development activity trends to watch: Polkadot, Cardano, and Ethereum
It is necessary to monitor trends in development activity, as projects with increased activity levels are often more promising than those with decreased activity. For example:
- Kusama and Polkadot GitHub joint venture (red line) has seen a significant increase in development. Continuous improvements to the network keep them number one.
- Cardano (yellow line) continues to experience significant development. However, its price has not increased at the same rate as other projects over the past three years.
- Filecoin (Peach Line) has seen a decrease in development activity since the beginning of the year.
Development activity as a biometric
Development activity is an important metric for assessing a cryptocurrency project’s potential for success and growth. Investors should monitor projects with high development activity to improve their investment portfolios.
Blockchains such as Polkadot, Cardano and Ethereum, which have strong development activity, are unlikely to suffer sudden declines, instilling confidence in their long-term prospects.
In line with 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 providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions.