As 2023 kicks off, developer teams in primary Blockchain networks are busy building and expanding their ecosystems, while the cryptocurrency market is trying to recover from the devastation caused by the collapse of FTX. The time given to the development of blockchain-based projects is a rather expensive resource, as projects that recruit a large number of developers who voluntarily use their time and expertise indicate the overall positive growth of the project. Santiment shared the top 10 altcoins in this regard.
Polkadot (DOT) and Kusama (KSM) shared the lead with the highest development activity on GitHub as of January 25, according to data provided by on-chain data platform Santiment. Working on a Proof of Stake (PoS) mechanism, Cardano (ADA) ranked third in terms of development activity with 337 points.
For those who don’t know, GitHub is cutting-edge software that facilitates collaboration between individual programmers and groups of programmers working on a single project. The use of this platform in the cryptocurrency industry is increasing day by day and is used by a wide range of people around the world, from coding experts to beginners. For example, this system is used by all emerging cryptocurrency startups to facilitate the interconnection of different concepts and programs.
Decentraland (MANA), Status (SNT) and Cosmos (ATOM), respectively, completes the list of top five altcoins in development activity recorded on Github. Filecoin (FIL), Internet Computer (ICP), Ethereum (ETH), and Concordium (CCD) were among the top 10 altcoins.
It is worth noting, however, that Kusama and Polkadot are sister Blockchains for experimental development and early-stage deployments and thus share the same score for development activity. On the other hand, Cardano has been keeping its place in the top three for the last few months. This situation had a positive impact on the ADA price as well, showing an increase of about 50 percent in the last 30 days and an increase of 8 percent in the last seven days.
Decentraland, a leading Web3-focused metaverse project, has also recently seen a 73 percent price increase, bringing this altcoin back to its pre-FTX crash level. Other projects mentioned on the list, such as ICP, ATOM, and FIL, have also seen significant increases in price over the past few weeks, with increases of 53 percent, 45 percent and 78 percent, respectively.