Cardano (ADA) has maintained its position as the leading cryptocurrency in terms of development activity, surpassing other popular projects like Polkadot (DOT) and Kusama (KSM). According to data from Santiment, Cardano’s development activity was the highest, followed by Polkadot, Kusama, and Avalanche (AVAX). Notably, Optimism also entered the top 10 list.
Santiment’s metric measures development activity based on “events” rather than the total number of commits, providing a more accurate representation of the work done by developers. This approach avoids duplication or inaccuracies that may occur when measuring development activity solely by commits.
At the same time, Cardano’s decentralized finance (DeFi) protocols have seen significant growth, with the total value locked surpassing $400 million. This has contributed to the price surge of Cardano’s native token, ADA, which has increased by more than 9% in the past seven days and over 150% so far this year.
Cardano’s network has been experiencing exponential growth, with numerous projects launched and currently being built on the platform. The network has also witnessed a high volume of transactions, demonstrating increased adoption and utilization.
In terms of token metrics, there are currently 9.1 million ADA tokens circulating within the ecosystem, governed by 81,621 token policies. Additionally, the deployment of Plutus scripts for smart contract development has shown steady progress.
Overall, Cardano’s strong development activity and growth in the DeFi sector position it as a leading player in the cryptocurrency industry.