According to crypto analysis firm Santiment, Polkadot (DOT), Kusama (KSM), and Cardano (ADA) have had the highest development activity in the last 30 days. The three projects also witnessed the highest notable GitHub commits in 30 days. One should note that DOT and KSM are tied for first place, with Cardano (ADA) receiving the third-highest score.
Moreover, this is not the first time the three projects have taken the top spot. Back in February, DOT, KSM, and ADA had taken similar positions as well. The recent results indicated the consistency that the protocols have pursued in their ecosystem. Consistent developments are a positive sign for any project and are an indicator that the project has not become irrelevant in an industry that is extremely fast-paced.
Will increased development lead to price increases for Cardano, Kusama, and Polkadot?
According to Santiment, “The further down you go on the development activity list, the worse average performances you’ll see.” This means that a project with better development activity usually sees better price performance.
However, Santiment pointed out the fact that this may not always be true. Cardano (ADA), although has seen a lot of development activity, has not moved much price-wise. The project is still down by a whopping 86.67% from its all-time high of $3.09. Nonetheless, since January 2023, ADA has grown by almost 66%. This seems to be in tangent with the larger crypto market, which seems to show signs of rebounding. According to Santiment, “Development activity is just one of many metrics to keep tabs on as you try to optimize your portfolio.” The metric, however, does not have the final say.
At press time, Cardano (ADA) was trading at $0.410, up by 3.2% in the last 24 hours. Kusama (KSM) was trading at $31.13, down by 0.5% in the last 24 hours. And Polkadot (DOT) was trading at $5.95, down by 1.5% in the last 24 hours.
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