Cardano Ranks High in Developmental Activity
Cardano has recently moved into the top 3 cryptocurrencies with the highest developmental activities, surpassing Ethereum, which is the leading altcoin and the second-largest cryptocurrency by market capitalization.
Santiment's Analysis of Development Activities
According to the on-chain market intelligence platform Santiment, Cardano has been ranked as the third-most active in development among the top cryptocurrencies. This is based on the analysis of GitHub activity, which measures the number of commits, issue interactions, and other development-related activities in project repositories.
Key Developments in Cardano
In recent months, Cardano has unveiled multiple projects contributing to its ecosystem's growth. Notably, the upcoming Chang hard fork aims to enhance the Cardano blockchain. Approximately 66.47% of blocks are currently being created on a Chang-ready node version, indicating the hard fork's imminent launch. The upgrade will enhance security and stability, making the network more robust against potential vulnerabilities.
Comparison with Ethereum
Cardano's advancement is significant, especially as Ethereum has fallen to ninth place in developmental activities. Ethereum's drop underscores Cardano's growing influence and resilience in the cryptocurrency space, even amid market downturns.
Other Leading Cryptocurrencies
The rankings highlight Internet Computer leading with the highest score due to its presence in the Artificial Intelligence sector. Hedera follows in second place with a strong market capitalization. Other notable cryptocurrencies in the top 10 include Chainlink, Optimism, Cosmos, Starknet, Ethstatus, and Polkadot.
Cardano's Price Performance
Alongside its development achievements, Cardano has seen improvements in its price. Over the last week, Cardano's price increased by 14.41%, with trading volume rising by 49.66%. Currently trading at $0.33, Cardano is showing optimistic signs for future growth. Some analysts predict the cryptocurrency could reach up to $5 during this bullish cycle.
