Santiment, an online platform that tracks on-chain and social signals for over 2,500 cryptocurrencies, has recently released information about the most active projects in the crypto space. According to their assessment, Hedera, an open-source proof-of-stake network for launching the next generation of web applications, has been the most active project in recent times.
The team at Hedera has been the most active in terms of development frequency, making them the top coin in the crypto market. Santiment’s assessment is based on counting non-redundant activity from a project and averaging this daily activity over the past 30 days.
The list of top cryptocurrencies, ranked by their non-redundant daily activity over the past 30 days, includes Hedera ($HBAR), Optimism ($OP), Cardano ($ADA), Chainlink ($LINK), Starknet ($STRK), Status ($SNT), DFINITY ($ICP), Cosmos ($ATOM), Polkadot ($DOT), and Kusama ($KSM).
This data is valuable to investors as it helps them identify the most promising projects within the crypto sector based on their preferences and risk tolerance. Santiment provides various filters and indicators to give investors an edge in the market.
GitHub activity is a primary metric used in this study and is particularly useful for analyzing ICOs and other crypto projects. The allocation of developers’ time and expertise to a project indicates positive factors such as regular updates and a lower probability of the project being an exit scam.
Santiment’s platform highlights genuine developer activity, which is crucial for investors. While there may be arguments about funding being used to simulate developer activity, any attempt to deceive can easily be noticed in public repositories like GitHub, compromising the authenticity of the project.
Many sites aim to monitor and analyze developer activity across different projects, but closer scrutiny of their statistics may reveal irregularities. By using a reliable platform like Santiment, investors can better understand and analyze the development dynamics and prospects of different crypto projects.
Tracking developer activity is one of the most important indicators of a project’s health and potential success. Investors should monitor this metric for their portfolios while keeping an eye out for the most popular and potentially lucrative projects.
Tags: ADA, ATOM, DOT, HBAR, ICP, LINK, OP