Chainlink (LINK) and Cardano (ADA) have recently entered the top 5 most active cryptocurrencies, showcasing their impressive development activity. While they may not hold the first position, both assets are widely recognized for their continuous development efforts within the industry. This development activity ranking considers all non-redundant project activity and calculates the average daily activity over the past 30 days. In this ranking, Hedera currently holds the lead, followed by Chainlink, Optimism, Internet Computer, and Cardano.
The active development of Chainlink and Cardano demonstrates their commitment to growth and innovation. However, it is essential to analyze how this development activity translates into their market performance. Chainlink’s price has recently experienced a 5.14% increase, reaching $14. Additionally, its trading volume has surged by 40%, indicating a growing number of traders participating in its market. Breaking through resistance levels could potentially initiate an upward trend for Chainlink, as it approaches its 50 EMA at $15.27, with the 100 and 200 EMAs positioned above it.
On the other hand, Cardano currently sits at a price of $0.4, displaying a 3-4% increase in the last three days. The resistance at $0.42, which represents the 50 EMA, poses a challenge for Cardano. However, successfully surpassing this level would allow it to target the 100 and 200 EMAs in the future.
Both Chainlink and Cardano’s active development efforts instill confidence in investors and generate interest in the market. Long-term investors find these cryptocurrencies appealing due to their continuous development activities, which suggest potential future improvements. As these projects progress, it is anticipated that their prices and growth will continue to benefit from these development efforts.