Categories: Crypto NewsNews

Cardano ($ADA) continues to outperform other top cryptos in development activity

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Nonhlanhla P Dube

Cardano ($ADA) development activity has remained above that of other prominent cryptocurrencies over the last 30 days, despite a cryptocurrency market rebound that has seen its competitor smart contract network Ethereum ($ETH) rise by more than 40%.

Cardano’s development activity, which tracks “the number of GitHub events that the project organization generated,” has remained above that of its competitors, towering above Polkadot ($DOT) and its canary network Kusama ($KSM), Ethereum, IOTA ($MIOTA), and Flow ($FLOW), among others, according to data from cryptocurrency analytics firm Santiment.
According to Santiment’s data feed, other popular cryptocurrencies such as Bitcoin and BNB lag considerably behind the top crypto assets in terms of development activity, with BTC scoring 87.4 and BNB scoring 0.03.

Santiment tracks development events rather than merely GitHub commits because, according to the company, its methodology “effectively avoids” specific pitfalls, such as projects forking others in order to “inherit” their commits and contributions.

Cardano’s increased development activity comes ahead of the Vasil hard fork, which is intended to provide a “huge performance improvement” to the cryptocurrency’s network. The hard fork is a significant improvement that will include four Cardano Improvement Proposals (CIPs).

According to reports, a panel of cryptocurrency industry professionals predicted that the price of Cardano would skyrocket to R50.50 by 2025 and R112.54 by 2030, though analysts estimate that the cryptocurrency will trade at just R10.86 by the end of the year.

Earlier this month, an artificial intelligence-based price prediction model predicted that the price of Cardano’s native token ADA would rise to R49.98 by September of this year, a considerable increase over the cryptocurrency’s current pricing.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
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