Cardano’s commitment to growth and development in the blockchain space sets it apart from its competitors.
On April 27, 2023, the crypto analytics firm Santiment published an enthralling blog post titled “Looking at the Current Top 20 Fastest Developed Assets in Crypto” which provided an abundance of information regarding the development of cryptocurrencies. The implications of the firm’s analysis for Cardano and its followers are significant.
The post discussed the significance of continuous innovation and development for cryptocurrencies, a topic that frequently divides traders’ opinions. Santiment claims that monitoring the actual number of GitHub activities can be deceiving due to redundant updates and the incorporation of non-innovative Slack discussions. To provide a meaningful perspective, the company eliminates these activities and focuses solely on those that contribute to substantive innovation or development.
Santiment identifies three indicators of a flourishing project: the team’s belief in success, an increase in feature rollouts, and a decrease in the probability that the project is an exit fraud. Notably, Cardano is among the top twenty assets with the quickest growth, exhibiting these characteristics.
17 of the top 20 swiftly developing assets, including Cardano, are among the top 100 crypto assets by market capitalization, the company discovered. This indicates a strong correlation between long-term price appreciation and devoted development teams.
Cardano displayed a +2% change when comparing the six-month price returns of these prominent assets. The average price change for the top 10 most developed assets, including Cardano, was -3%, while the average price change for the next 10 assets was -14%. There are exceptions, but the data suggests that assets with more development activity tend to have superior price performance.
Looking at development trends, Santiment highlighted the ongoing and substantial development of specific initiatives since 2020.
In conclusion, the Santiment report implies that Cardano supporters should be encouraged. Despite the delayed increase in development activity, Cardano remains among the fastest-growing assets, indicating the project’s stability and endurance.
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