Polkadot (DOT) and Kusama (KSM) Leading Cardano (ADA) in This Metric, Says Crypto Analytics Firm Santiment
Polkadot (DOT) and Kusama (KSM) have led the crypto market in terms of development activity over the past month, according to research firm Santiment.
Sentiment notes that over the past month, both Ethereum (ETH) challenger Polkadot and its Canary test network Kusama have had more non-spam GitHub submissions compared to the third most active project on the site, Cardano (ADA).
“If you base your portfolio around assets that receive solid development activity on GitHub, then Polkadot & Kusama are worth a look. Over the last 30 days, the assets have 14.3% more non-spam submissions than the second largest asset, Cardano .”
DOT is trading at $6.67 at the time of writing. The 11th ranked crypto asset by market capitalization has increased by more than 3% in the last 24 hours.
KSM is trading at $43.84 at the time of writing. The 101st ranked crypto asset by market capitalization has increased by more than 5% in the last day.
As for the overall crypto market, Santiment also tracks the number of “buy the dip” mentions on social media to possibly indicate when the market has bottomed.
Explains the research firm,
“Ideally [these] these kinds of calls quite often occur at the beginning of a downtrend, which slowly fades to the bottom of the market. This can be explained by growing distrust of the public. Less confidence, less patience. At the point of maximum disbelief, a reversal can occur.”
Santiment notes that “buy the dip” conversations on social media are waning, but not gone yet. The research firm says the market is “not there yet”.
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Featured image: Shutterstock/Ruslan Gi
