Amid the volatile year that 2024 has proven to be thus far, Cardano (ADA) remains the top cryptocurrency on the market in one crucial metric. Specifically, Santiment has recently taken to X (formerly Twitter), to discuss how Cardano is performing against the host of competition.
Moreover, the post stated that Cardano maintains the top spot in terms of development activity. Indeed, the rankings show that ADA has firmly entrenched itself in the metric that racks developed activity on projects that have been placed into Sentiments public GitHub repositories.
Also Read: Cardano (ADA) Price Prediction: January End 2024
Cardano (ADA) is the Top Token on the Development Activity Ranking
Although we are still less than a month through the year, volatility has been the optimal word for describing the digital asset market in 2024. Despite some landmark developments facing the industry, a plethora of tokens have been on a downtrend. With no asset safe from the widespread downtrend, some are showing their worth in other areas.
Another asset that has been struggling is Cardano. Specifically, it is down more than 8% over the last 24 hours, and trading at $0.45 according to CoinMarketCap. However, it has shown to be the best-performing asset in one area. Indeed, Cardano (ADA) is still the top cryptocurrency in the metric of development activity.
Also Read: Cardano (ADA) Could Hit $7, But There’s a Catch
Santiment, a digital asset analytics firm, has shared a table showing how cryptocurrency projects compare. Specifically, this table showcases how they competed in terms of development activity over the last 30 days. As seen in the chart, Cardano is firmly in first. Subseuqnlety, Polkadot (DOT), and Kusama (KSM) follow.
Cardano (ADA) has observed nearly 333 events over the past month. An ‘Event’ is the activity metric that Santiment uses to measure the work of developers. Moreover, an event can be triggered by a host of actions; including things like a code push, a comment, or forking.
Both Polkadaot and Kusama are close to Cardano, with an indicator reading value of 329.57. Alternatively, the second largest digital asset, Ethereum (ETH) has notably fallen to the final spot of the top ten rankings. Conversely, the metric notes that development on the project is surging, which could be a notable piece of information for an asset’s future performance.
