Cardano (ADA) Leads in Development Activity, Reports Santiment
Blockchain analytics company Santiment has revealed that Cardano (ADA), a competitor to Ethereum (ETH), has reclaimed the top position in terms of development activity. Over the past 30 days, Cardano recorded 611.47 notable GitHub commits, surpassing all other cryptocurrency projects. Previously, Polkadot (DOT) and its test network Kusama (KSM) held the lead. Currently, Polkadot and KSM are tied for second place with 500.67 GitHub commits in the same period.
Development Activity as a Measure of Confidence
Santiment suggests that high levels of development activity indicate developers’ confidence in the longevity of a blockchain and the potential for new features to be introduced in its ecosystem.
Bitcoin Supply on Exchanges Hits Six-Year Low
In addition to tracking Cardano’s development activity, Santiment is closely monitoring the supply of Bitcoin (BTC) on crypto exchanges. The firm reports that BTC supply on exchanges is currently at 5.68%, the lowest level seen in almost six years. This low supply could reduce the impact of future sell-off events as it suggests that market participants are holding onto their BTC for the long term.
Closing Thoughts: Positive Signs for Cardano and Bitcoin
Cardano’s strong development activity indicates growing confidence among developers, potentially leading to exciting new features. Meanwhile, the decreasing supply of BTC on exchanges suggests a long-term bullish sentiment among Bitcoin holders. These developments bode well for both Cardano and Bitcoin as they continue to solidify their positions in the crypto market.
By
By
By
By
By
By