Santiment, an online platform for tracking on-chain and social signals for more than 2,500 cryptocurrencies, has recently provided information about the most developed projects. This assessment has shown that Hedera, an open-source, leaderless proof-of-stake network for launching the next generation of web applications has been the most active project in the recent period.
Hedera, Cardano, and Chainlink Lead Crypto Development Activity
The list of top cryptocurrencies, ranked by their non-redundant daily activity averaged over the past 30 days, includes Hedera ($HBAR), Optimism ($OP), Cardano ($ADA), Chainlink ($LINK), Starknet ($STRK), Status ($SNT), DFINITY ($ICP), Cosmos ($ATOM), Polkadot ($DOT), and Kusama ($KSM).
This data is particularly valuable to investors because it enables them to sift and sort the most promising projects within the sector to best meet individual preferences and tolerances for risk within their portfolios. Looking at the hundreds of filters and best indicators that Santiment offers, investors will have an edge over others in the market.
GitHub activity, which is one of the primary metrics used in this study, is especially useful when analyzing ICOs and other cryptocurrency projects. The significant allocation of developers’ time and expertise to a project often indicates several positive factors regular updates on new features, and a low probability that the project is an exit scam.
Santiment Highlights Genuine Developer Activity for Investors
Although there is an argument of having enough funding to simulate the developer activity, the practicality of such a deception cannot be realized. Any effort to stage developer activity could easily be noticeable in public repositories such as GitHub, thus threatening the genuineness of the project.
Many sites exist that attempt to monitor and analyze developer activity across different projects. Nevertheless, a closer look at their statistics may occasionally reveal some unsettling irregularities. Therefore, by using a reliable platform such as Santiment, it is possible to better understand and analyze the dynamics of development activity and the promising prospects of different cryptocurrency projects.
Ultimately, developer activity tracking is one of the most important indicators for project’s health and potential success and it is used by platforms like Santiment. It is important for investors to monitor this metric for their portfolios while keeping an eye out for the most popular and potentially most lucrative projects.
