The data shows that Polkadot (DOT) remains the number one cryptocurrency on the market with respect to project development activity.
Polkadot continues to top the development activity chart
According to data from the on-chain analysis firm HolyApart from Polkadot, the assets in the top three for this indicator are Kusama (KSM) and Cardano (ADA).
He "development activityโ measures the work that cryptocurrency project developers have done in the project's public GitHub repositories over the past 30 days.
In this metric, developers' work is not measured using the total number of commits in the project (as other versions of this metric can), but in terms of "events".
An event refers to an action on the GitHub repository, such as pushing a commit, forking the repository, creating an issue, etc. The benefit of this approach is that the actual work of the developers is evaluated more accurately. To see how consider the example of bifurcation.
Because the fork action creates a duplicate copy of the repository, all commits made to the original are naturally transferred to the fork. However, if the original repository was not created by the developer who forked it, the old commits naturally differ from the work of this new developer.
But if development activity is measured with commits only, these commits included in the copy will also be counted under this developer's name, which provides a false picture. In the metric version of Santiment, the branch action is counted as a single event, so this does not become a problem.
Now, here's a chart showing the trend in development activity for the top 20 cryptocurrencies (by this metric) over the past few years:
DOT seems to be on the top of this list | Source: Santiment on Twitter
As shown in the graph above, Polkadot and kusama they have a decent gap over the other cryptocurrencies as the development activity value is 4117 for both coins.
CardanoThe third most developed asset at the moment, it has seen some dip in this metric over the past few weeks, bringing it a bit close to Cosmos (ATOM) in fourth place.
In recent years, both DOT and KSM have recorded decent growth in their development activity, but the indicator value has remained more or less the same for ADA. However, the sideways movement has been around already high values.
The importance of development activity is that it can tell us if developers are committed to a project. While not the final metric, high development activity can still be a positive sign that the coin is probably not just an exit scam.
The graph shows that Polkadot has been the most developed cryptocurrency on the market for many months, which shows how committed the developers have been to the project.
An interesting trend emerged when Santiment compared the price performance of the top 10 assets (based on development activity) to the next 10 (out of the top 20). The first batch (those with the highest development activity) experienced losses of 3% on average over the last six months, while the other group experienced losses of 14%.
โGenerally speaking, the further down the list of development activities you are, the worse the average performance you will see,โ the firm explains. โJust remember that there will be tons of exceptions, so take it with a grain of salt.โ
DOT price
As of this writing, Polkadot is trading around $5.9, down 6% over the past week.
Polkadot seems to have significantly declined recently | Source: DOTUSD on TradingView
Featured image of Traxer on Unsplash.com, Charts from TradingView.com, Santiment.net
