Internet Computer (ICP) has recently surpassed Cardano (ADA) to become the number one cryptocurrency in terms of Development Activity, according to data shared by the on-chain analytics firm Santiment. Development Activity is measured by the total amount of work delivered by the developers of a cryptocurrency project on its public GitHub repositories. While commits are typically used to gauge this work, the issue of inheriting commits in forked projects can skew the results. To address this problem, Santiment tracks the work done through “events,” which are actions taken on the repository that are not inherited from previous projects.
Based on the Development Activity over the past thirty days, Internet Computer has emerged as the top cryptocurrency project, registering almost 467 events. This significant increase in output has allowed ICP to outperform other projects like Cardano and Polkadot. Ethereum also saw an improvement in its position, moving from tenth to ninth place on the list. A high Development Activity demonstrates the strong commitment of developers to a project and can be a factor to consider when evaluating the legitimacy and long-term potential of a cryptocurrency project.
While Development Activity does not directly impact prices, it can be a positive indicator of a project’s longevity and sustainability. In the case of Internet Computer, being at the top of the list in terms of Development Activity is a promising sign for the future of the asset. As of the latest data, Internet Computer is trading around $13.3, showing a 5% increase over the past week. The price of ICP has been consolidating sideways in recent days, indicating a period of stability in the market.
In conclusion, Internet Computer has emerged as the most developed crypto project in the past month based on its high Development Activity. This achievement reflects the dedication of the developers towards the project and can influence perceptions of its legitimacy and long-term prospects. While Development Activity may not directly impact prices, it serves as a positive indicator for the future of a cryptocurrency project. With Internet Computer leading the list in this metric, investors may view it as a strong contender in the digital asset market.
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