Crypto: Cardano (ADA), Back in the Top 10 Assets with Notable GitHub Activities

Yesterday, Santiment released a new list of cryptocurrencies based on development activity achievements. Unsurprisingly, Cardano holds the pole position in this ranking. Let’s zoom in!

Cardano, the Crypto Project Sporting a High Score on Github

Santiment, a crypto analytics firm, routinely publishes a list of 10 crypto assets whose GitHub development activities are deemed “notable.” The top 10 from last March put Polkadot (DOT) in the top spot, with a score of 591.47 GitHub commits in just 30 days.

🧑‍💻 Here are #crypto's top coins by development activity. Notable #github commits, past 30 days:

1 @cardano $ADA
2 @polkadot $DOT
3 @kusamanetwork $KSM
4 @avax $AVAX
5 @dfinity $ICP
6 @hedera $HBAR
7 @cosmos $ATOM
8 @optimismFNP $OP
9 @ethstatus $SNT
10 @chainlink $LINK pic.twitter.com/ilpWhbksj4

— Santiment (@santimentfeed) December 26, 2023

This new top 10 from Santiment highlights a significant comeback of Cardano some months later. The ADA issuing company thus moved up from third place in March to lead the pack.

It should be noted that this isn’t the first time Cardano has topped the list. Last October, The Daily Hodl revealed that this crypto project, initiated by Charles Hoskinson, reclaimed the top spot in Santiment’s rankings based on development activity. At that time, Cardano recorded 611.47 notable GitHub commits in a month.

But what do these high levels of development activity mean? Among other things, they indicate the rise in developers’ confidence in the long-term viability of this blockchain, a competitor to Ethereum. Also, we note the potential for adding new features to the Cardano ecosystem.

Facing this comeback, the crypto community is divided. On one side, there are skeptics like Ami Crypto who think:

“Cardano is a sh*t project. It’s really dead. I’m not sure what they’re building.”

On the other hand, there are enthusiasts praising the merits of the project by declaring “Cardano always on top.”

Is Ethereum Becoming Less Attractive?

Comparing the old rankings to the most recent one, we come to the following remarks:

• Polkadot (DOT) and its large-scale test network Kusama (KSM) rarely leave the top 3 of cryptos fueled by highly dynamic developers;
• Vega Protocol (VEGA), which came 5th in September and 6th in October, is no longer part of the new list;
• Filecoin (FIL), which was listed in September, is absent;
• Ethereum (ETH), which Santiment ranked 10th in October, lost its spot;
• Internet Computer Protocol (ICP), amidst which many kinds of innovations are cropping up, continues to attract developers’ interest;
• And so on.

In all of this, the case of Ethereum stands out. Why is there this loss of interest in Vitalik Buterin’s blockchain? Undoubtedly, its native crypto ETH is doing very well, its market capitalization still warrants second place behind Bitcoin, its environmental footprint has dramatically decreased, etc. But the dwindling interest in Ethereum is more than evident.

Perhaps the upcoming updates, including those related to the EIP-4844, will make a difference in the future?