While the cryptocurrency market is making bigger strides day by day, increasing developer activities are attracting the attention of many experts. Development activity plays a crucial role in determining the potential success and growth of a cryptocurrency project. So, which altcoins have seen the most developer activity lately? Here are the details…
Experts pointed to the bull market by making statements for altcoins with the most developer activity!
As you know, the cryptocurrency market is developing and growing day by day. Especially with the increase in developer activities for cryptocurrencies, bullish signals are already emerging for many altcoin projects. Increased developer activity for altcoins increases confidence in the success of the project, ensures the commitment to post new features, and reduces the likelihood of an exit-scam. That’s why experts often emphasize the importance of developer activities.
In the past 30 days, the leading cryptocurrency analysis platform Santiment has made statements for altcoins that have seen great activity in terms of developer activity. Among these altcoins, the 17 projects that are in the top 20 are also among the top 100 market caps, indicating a strong correlation between development activity and market performance. However, the price levels of altcoins, whose developer activities have increased recently, are increasing day by day, but not all altcoins are included. The price returns of the top 20 projects in the last six months are as follows:
- Kusama (KSM) and Polkadot (DOT) fell in price with changes of 12 percent and 8 percent, respectively.
- Ethereum (ETH) registered a significant price increase of 26 percent.
- Cardano (ADA) and Hedera (HBAR) witnessed small gains with changes of 2 percent and 1 percent respectively.
- Decentraland (MANA) and Vega Protocol (VEGA) experienced price drops of 14 percent and 17 percent, respectively.
On the other hand, while the 6-month average price change of the 10 most advanced projects is 3 percent, 11-20. The average price change of the next projects was more pronounced with a 14% decrease.
Experts point to developer activities for Polkadot, Cardano, Ethereum!
It is very important to monitor trends in development activities, as projects with increasing activity levels are often more promising than those with decreasing activity levels, according to experts. As an example, experts draw attention to the following critical points:
- Shared Kusama and Polkadot GitHub (red line) saw a notable increase in development. Constant developments in the network put them in the first place.
- Cardano (yellow line) continues to experience significant development. Still, its price hasn’t increased at the same rate as other projects in the last three years.
- Filecoin (peach line) has observed a decline in development activity since the beginning of the year.
According to experts, developer activities are vital for altcoins!
As experts have previously reported, development activity is a crucial metric for assessing the success and growth potential of a cryptocurrency project. According to experts, investors should follow projects with high development activity to optimize their portfolios. On the other hand, according to experts, blockchains with strong development activities such as Polkadot, Cardano and Ethereum are less likely to experience spikes, which instills confidence in their long-term prospects. That’s why experts recommend closely following development activities for altcoins.
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