Ethereum is currently the most actively developed crypto, Polkadot ranks second
As the cryptocurrency sector navigates through a bear market, various projects seem unaffected by conditions accelerating development activities on their respective blockchains. In particular, there are some projects in the area that stand out in an attempt to meet the demands of society.
In particular, Ethereum (ETH) is at the top among the projects with the most development activity in the last 30 days at 401, according to data provided by the blockchain analytics platform Sentiment on 22 August.
Elsewhere, open source blockchain Polkadot (DOT) and Kusama (KSM) are second and third respectively, each registering 400 development activities. Cardano (ADA) is in fourth place with 389 projects, while Status tops the top five with 324.
The development activity tracked by Santiment is based on publicly available Github repositories, with free access to complete historical and real-time data about the project. The tracking focuses only on development-related events.
Among the top four crypto projects, only Ethereum has registered a less positive price gain in the last 30 days of 0.1%.
Ethereum’s development activity is increasing ahead of the merger
Ethereum’s development activity correlates with the upcoming Merge upgrade that will transition the network to the Proof-of-Stake (PoS) protocol. In particular, with such a significant development, more projects are likely to be attracted to the platform and will look to invest in the new version of the blockchain.
Furthermore, the number of projects may also accelerate the post-merger period since the network will be considered better.
At the same time, developer activity has correlated with market conditions. In most cases, developers tend to work on a blockchain in bullish conditions, but the numbers don’t fall off during a bear market.
It is worth mentioning that over the past 30 days, Ethereum has shown a bullish sentiment in the wake of the Merge upgrade announcement, with its price topping $1,800. However, the recent correction does not seem to have affected development activity.
Ethereum’s declining gas fees attract developers
Historically, Ethereum gas fees have been a significant pain point affecting development activity on the network.
In addition, the gas tax partially disincentivized the developers and resulted in a stalemate without solutions. However, the last 30 days have coincided with Ethereum gas fees hitting their lowest level in almost two years, reaching 13 gwei.
Elsewhere, other blockchains like Cardano are working relentlessly to improve the network, attracting more developers ahead of the Vasil Hard Fork to improve the network’s scalability.
Furthermore, in 2021, Cardano emerged as the most crypto project with the highest development activity on Github. Cardano emerged ahead of Kusama, Polkadot and Ethereum.
