Ethereum is currently the most actively developed crypto, Polkadot ranks 2nd
As the cryptocurrency industry navigates a bear market, different projects seem unfazed by the conditions accelerating development activities on their respective blockchains. In particular, certain projects within the space stand out in order to meet the demands of the community.
In particular, Ethereum (ETH) ranks first among projects with the most development activity in the last 30 days at 401, according to Data provided by blockchain analytics platform Saniment August 22.
Elsewhere, open-source blockchain Polkadot (DOT) and Kusama (KSM) rank second and third respectively, recording 400 development activities each. Cardano (ADA) ranks fourth with 389 projects, while Status caps the top five spots at 324.
Development activity tracked by Santiment is based on publicly available Github repositories, with free access to comprehensive historical and real-time data regarding the project. Monitoring focuses only on development-related events.
Of the four major crypto projects, only Ethereum has seen a minor positive price gain in the past 30 days at 0.1%.
Ethereum Development Activity Increases Ahead of Merger
Ethereum development activity correlates with the upcoming Merge upgrade that will transition the network to Proof-of-Stake (PoS) protocol. Notably, with such massive development, more projects are likely to be attracted to the platform and will seek to invest in the new version of the blockchain.
In addition, the number of projects could also accelerate the post-Merger period since the network will be deemed better.
At the same time, developer activity is correlated to market conditions. In most cases, developers tend to work on a blockchain in bullish conditions, but the numbers don’t drop during a bear market.
It is worth mentioning that over the past 30 days, Ethereum has shown a bullish sentiment following the announcement of the Merge upgrade, with the price surging above $1,800. However, the recent patch does not appear to have affected development activity.
Ethereum’s lower gas fees attract developers
Historically, Ethereum gas fees have been a sore spot affecting development activity on the network.
In addition, gas charges partially discouraged developers and resulted in an unresolved stalemate. However, the last 30 days coincided with Ethereum gas fees hitting an all-time low. level in almost two yearsreaching 13 gwei.
Elsewhere, other blockchains like Cardano are working tirelessly to improve the network, attracting more developers ahead of the Vasil Hard Fork to improve network scalability.
Moreover, in 2021, Cardano became the most crypto project with the most development activity on Github. Cardano outperformed Kusama, Polkadot and Ethereum.
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