Cardano, Polkadot and additional Ethereum rivals are leading crypto markets in key metric: Santiment
Crypto analytics firm Santiment says Polkadot (DOT), Kusama (KSM) and Cardano (ADA) lead the markets in a key value.
Sentiment says that the three best blockchain projects with the most development activity are DOT, KSM and ADA.
The ranking is based on submissions to the software development hosting platform GitHub in the last thirty days.
“Top 10 Crypto Asset Development Activity: Notable Github Commits, Last 30 Days:
1) Polka dot DOT
2) Kusama KSM
3) Cardano ADA…“
Per Santiment, the amount of development activity happening in blockchain ecosystems can signal that people believe in the future.
“GitHub activity is an interesting metric when analyzing ICOs [initial coin offerings] and crypto projects. Developer time is a relatively expensive resource, and if a given project has many developers dedicating their time and skills, this can mean several things:
These people believe that the project will be successful.
The project ships several functions.
It is less likely that the project is just an exit scam.”
Sentiment too look at the connection between the US Dollar Coin (USDC) and the price movement of Bitcoin (BTC). The research firm says that USDC holdings are decreasing as BTC prices increase, indicating that money is shifting from USDC to BTC.
“It seems that USDCoin has played a key role in crypto’s swings, especially since the FTX bankruptcy in early November. The number of addresses that held 100,000-100,000,000 USDC by 2,001 (-7.8%) in just the last two the months as the money was moved back to BTC.
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