Santiment, a chain analysis platform, has highlighted the development activity of altcoin projects in the cryptocurrency market based on recent GitHub data. Cardano (ADA) leads the list of top altcoins by development activity, followed by Polkadot (DOT) and Kusama (KSM). These projects are not only active in development but also rank among the top 50 cryptocurrencies by market value, suggesting a correlation between development efforts and price performance.
Development activity is an indicator of the progress, growth, or evolution of an altcoin project’s software over a certain period. It encompasses three main components: code development, software design, and testing and debugging. Code development involves the creation, testing, and enhancement of software code by developers.
Software design includes planning development processes like software architecture and user interface design. Testing and debugging are crucial for ensuring the software functions correctly by identifying and fixing errors. This term is broadly applicable and can cover various domains, from software development to product design and from research projects to construction activities.
High development activity in an altcoin project is seen by investors and industry observers as a sign of consistent work, adaptability to innovations, and high long-term potential. The remainder of the list of top altcoins by development activity includes Avalanche (AVAX), Internet Computer (ICP), Hedera (HBAR), Cosmos (ATOM), Optimism (OP), Status (SNT), and Chainlink (LINK).
The focus on development activity stems from the belief that active development is generally associated with better price performance in the crypto world. This belief is reinforced by the fact that the majority of the top 10 altcoins by development activity are also among the largest by market capitalization.
In conclusion, the emphasis on development activity within the altcoin market serves as a barometer for the health and potential of projects. As such, platforms like Santiment provide valuable insights for investors looking to gauge the vibrancy and commitment of the teams behind these digital assets.