Traders often have mixed views on the importance of constantly innovating and improving cryptocurrencies. Some people believe that when an asset functions as expected with few issues, the development team is irrelevant. However, development activity is a key metric to consider when evaluating projects.
#polka dot, #Yayoi Kusamaand #cardano: The top three most active encrypted assets #Github Submissions within the last 30 days $ point $KSM $ADA https://t.co/GZGW7DhV3K
— Kyptos (@azcoinnews) April 27, 2023
Santiment, a leading provider of crypto data and insights, tracks development activity as a criterion for evaluating projects. While tracking the amount of activity on Github by the team behind the asset is necessary, the risk of misunderstanding is high. Many updates are redundant, and some Githubs count each individual Slack message, making their count meaningless. To solve this problem, Santiment filters out noisy data and ignores daily updates or Slack conversations that don’t mean anything to the asset.
stupidnoise: mood
When an asset has a strong and high activity growth rate, three conclusions can be drawn:
– The team behind it believes the project will be successful.
– The project is implementing more features.
– The project is unlikely to be an exit scam.
The top 20 fastest growing assets tracked by Santiment over the past 30 days are both established and emerging categories. Notably, 17 of these 20 assets are in the top 100 by market capitalization. Consequently, there is a high correlation between those assets that consistently perform the best and those that have the most dedicated teams driving impact in the space.
It’s worth noting that all of the projects on this list have been around for over a year. Returns have been inconsistent over the past six months, as some assets rose while others fell. For example, the value of ETH has increased by 26%, while FLOW has fallen by 47%. Here is how token returns have changed over the past 6 months:
- T1 – Yayoi Kusama ($KSM): -12%
- T1 – Polkadot ($DOT): -8%
- 3 – Cardano ($ADA): +2%
- 4 – Cosmos ($ATOM): -9%
- 5 – Ivy ($HBAR): +1%
- 6 – Internet Computer ($ICP): +5%
- 7 – Status ($SNT): -6%
- 8 – Ethereum ($ETH): +26%
- 9 – Decentraland ($MANA): -14%
- 10 – Vega Protocol ($VEGA): -17%
- 11 – Aptos ($APT): +14%
- 12 – Chainlink ($LINK): -1%
- 13 – IOTA ($MIOTA): -23%
- 14 – Flow ($FLOW): -47%
- 15 – Osmosis ($OSMO): -37%
- 16 – MultiversX ($EGLD): -18%
- T17 – Avalanche – BNB Chain ($AVAX): +2%
- T17 – Avalanche ($AVAX): +2%
- 19 – Filecoin ($FIL): +1%
- 20 – Uniswap ($UNI): -18%
A comparison between top 1-10 and top 11-20 over the past 6 months reveals significant differences. The average price change for the top 1-10 was -3%, while the average price change for the top 11-20 was -14%. This demonstrates the correlation between development activity and price performance.
While development activity is an important metric, it is not the only metric to consider when evaluating a cryptocurrency. Traders should also consider other indicators such as market capitalization, trading volume, and overall market sentiment. However, development can be an important factor to keep in mind when making investment decisions.
In conclusion, development activity is an important metric to consider when evaluating projects. Santiment data can help traders make informed investment decisions. While there are many other factors to consider, development activity is an important indicator of a digital currency’s potential for long-term success.
- Changpeng Zhao entered the top 3 financial giants with a net worth of US$28.2 billion
- Polkadot (DOT) and Kusama top the list of GitHub commits for the past month
- Polkadot’s Github developer community reaches peak activity in Q3 2022
front page
according to Kyptos
