Cardano (ADA) Marks New Success In Development Activity

Cardano is making the news following a pause. Check out the latest achievement that the project has been able to mark.

According to blockchain analytics firm Santiment, Cardano (ADA) has regained its position as the top crypto project in terms of development activity, surpassing even its rival Ethereum (ETH).

Over the past 30 days, Cardano recorded 611.47 notable GitHub commits, indicating a high level of development activity and confidence in the blockchain’s longevity.

Previously, Cardano was trailing behind Polkadot (DOT) and its canary test network Kusama (KSM), which are now tied for second place with 500.67 GitHub commits in the past 30 days.

Santiment notes that such a surge in development activity may suggest that new features and updates could soon be expected in the Cardano ecosystem.

As of writing this, the value of ADA is trading at $0.251, which reflects a decrease of over 2% in the last 24 hours.

The company is also closely monitoring the amount of Bitcoin (BTC) available on cryptocurrency exchanges.

According to Santiment, the supply of BTC on exchanges is currently at 5.68%, which is the lowest it has been in nearly six years.

This shortage of Bitcoin on exchanges signifies that investors are holding onto their BTC for the long-term, which could minimize the impact of any future sell-off events.

Says Santiment:

“Bitcoin had its most coins (over 10,000 BTC) moving off exchanges since September 7th, and crypto’s top market cap asset is making a second run at crossing a $28,000 market value.”

According to the firm is also important that the utility will be important here, as unique addresses have fallen to six-week lows.

Back in September, we revealed the fact that according to a recent blog post by Santiment, a platform for analyzing blockchain, Polkadot (DOT) and its canary test network Kusama (KSM) have surpassed Cardano (ADA) in terms of development activity on the GitHub platform.