Crypto analytics firm Santiment is highlighting the continued growth of decentralized blockchain platform Cardano (ADA) as it outpaces several key competitors.
According to a new post, the data aggregator showcases Cardano’s impressive number of GitHub repositories compared to lower numbers from layer-1 developer tool Flow (FLOW), cross-chain interoperability protocol Polkadot (DOT) and its affiliated testnet Kusama (KSM), as well as leading smart contract platform Ethereum (ETH).
“Cardano reigns as the most developed asset in crypto, according to our analysis of code pushes, issue interactions, and more.
Routine updates from teams are excluded to ensure only relevant development is included.”
Just three weeks ago Santiment noted the rapid pace of its development on GitHub, with the latest data indicating Cardano is maintaining momentum.
Santiment chief technology officer Valentin Mihov explained the significance of tracking GitHub activity in a blog post by saying,
“Developers’ time is a relatively expensive resource and if a given project has a lot of developers dedicating their time and skills it could mean several things:
These people believe that the project will be successful, the project is shipping more features, [or] there is less probability the project is just an exit scam.”
At time of writing, Cardano is riding the wave of a widespread mid-week market rally, up 8.62% in the past 24 hours and trading for $0.50.
Santiment also recently pointed out that distributed ledger XRP Network (XRP) has the most unique active addresses in nearly two-and-a-half years. In total there have been five significant network spikes over the past week.
“XRP Network has just hit a huge milestone.
The amount of unique addresses currently interacting on the network has exceeded 247,000 in just a 4-hour window. This is the highest spike recorded since February 2020.
New XRP addresses created remains steady.”
XRP is up by 6% on the day with a market value of $0.35 at time of writing.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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