Cardano (ADA) ranks top in the crypto sector in terms of development activity

On Dec 28, 2023

Amid the rally of the ADA coin, the development activities around the Cardano blockchain was active at top level. This new fact acted as another fact to bring confidence among the Ada coin investors.

Cardano is a highly popular crypto blockchain which is known for its stability & fast speed of transaction execution. This crypto project was founded by Ethereum co-founder Charles Hoskinson. Hoskinson is the CEO of Cardano development firm Input Output Hong Kong Global (IOG). ADA is a native coin of the Cardano blockchain.

The current trade price of ADA coin is $0.648 & this trade price is 6% higher over the last 24 hours.

Cardano (ADA) ranks top in the crypto sector in terms of development activity 1

According to a data report available on the crypto analytic platform Santiment, the developer’s activity around the Cardano blockchain on the popular open-source software code-sharing platform GitHub was highest in the last 30 days.

Data showed that Cardano surpassed all the top crypto projects e.g. Polkadot (Dot), Kusama (KSM), Avax, ICP, Atom, OP, etc, in terms of development activities.

🧑‍💻 Here are #crypto's top coins by development activity. Notable #github commits, past 30 days:

1 @cardano $ADA
2 @polkadot $DOT
3 @kusamanetwork $KSM
4 @avax $AVAX
5 @dfinity $ICP
6 @hedera $HBAR
7 @cosmos $ATOM
8 @optimismFNP $OP
9 @ethstatus $SNT
10 @chainlink $LINK pic.twitter.com/ilpWhbksj4
— Santiment (@santimentfeed) December 26, 2023

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Alongside the surge in the trade price of ADA coin over the last few months, the total value locked on Cardano’s decentralised finance (DeFi) protocols has recently soared past $400 million.

Last month, the Cardano blockchain saw the launch of 152 projects and 1,307 currently building on top of it.

Notably, the Plutus smart contracts platform on Cardano hosted 14,302 smart contracts (both V1 and V2 combined). This figure showed a clear picture of an impressive growth of over 200%, surging from 4,731 smart contracts recorded on 1 January 2023.

Cardano’s IOG always remains focused on development activities around Cardano, to make the Cardano blockchain better for commercial use.

It is worth it to note that Cardano founder Charles Hoskinson never took money from venture capitalists (VCs) for Cardano and this is the reason why Cardano fails to get media attention.

In the past, Cardano leaders never used any kind of promotional stunt to promote the Cardano project, instead, they always spent time on new development proposals for the better future of Cardano.