Metric analysis

Cardano leads Bitcoin, Ethereum, Polkadot and two Altcoins in a single metric: analyst firm Santiment

Crypto analytics firm Santiment highlights the continued growth of decentralized blockchain platform Cardano (ADA) as it outpaces several key competitors.

According to a new post, the data aggregator showcases Cardano’s impressive number of GitHub repositories compared to the lower numbers of layer-1 development tool Flow (FLOW), cross-chain interoperability protocol Polkadot (DOT), and its affiliate testnet Kusama (KSM), as well than the leading smart contract platform Ethereum (ETH).

“Cardano reigns as the most developed crypto asset, based on our analysis of code pushes, issue interactions, and more.

Routine updates from Teams are excluded to ensure only relevant developments are included.

Source: Song/Twitter

Just three weeks ago Santiment noted the rapid pace of its development on GitHub, with the latest data indicating that Cardano is maintaining momentum.

Chief Technology Officer Santiment Valentin Mihov Explain the importance of tracking GitHub activity in a blog post by saying:

“Developer time is a relatively expensive resource and if a given project has a lot of developers contributing their time and skills, it could mean several things:

These people believe that the project will be successful, the project has more features, [or] there is less chance that the project is just an exit scam.

At the time of writing, Cardano is riding the wave of a broad-based mid-week market rally, up 8.62% in the past 24 hours and trading at $0.50.

Santiment also recently underline that the XRP Distributed Ledger (XRP) network has had the most unique active addresses for almost two and a half years. In total, there were five major network spikes over the past week.

“XRP Network has just reached an important milestone.

The number of unique addresses currently interacting on the network exceeded 247,000 in just 4 hours. This is the highest peak recorded since February 2020.

Newly created XRP addresses remain stable.

Image
Source: Song/Twitter

XRP is up 6% on the day with a market value of $0.35 at the time of writing.

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Featured Image: Shutterstock/WWWoronin