Cardano topped the most developed assets of 2021
According to Saniment data, Cardano remains among the top five fastest growing assets over the past 30 days. In terms of development activity, Santiment reports that Uniswap, Solana, and Cardano have been the most developed over the past 30 days.
With 386 notable Github submissions per day from its developers, Cardano clinched third place in 30-day development activity. Uniswap remains the fastest developed project on the market and maintains first place with 1,070 Github submissions per day, while second place is held by Solana.
Santiment’s metric tracks development data from thousands of public Github repositories. With more users contributing to a project, the higher it gets in the rankings.
While development activity has little to no impact on near-term market prices, it may be a healthy indicator of the project’s long-term growth. Cardano topped the most developed assets in 2021, U.Today previously reported.
Positive developments in the Cardano ecosystem
Cardano founder Charles Hoskinson recently shared the great news of the launch of the first Hydra Heads on Cardano’s public testnet. Hydra Heads, the first in a suite of protocols, is an essential part of Cardano’s scaling journey. Hydra refers to a set of Layer 2 solutions aimed at improving network security and scalability.
With the release of smart contracts technology for the Cardano blockchain, more developers have started to utilize the network and release various use cases. Cardano’s total value locked, or TVL, continues to grow. According to the DeFi LIama tracking service, $223 million is currently locked in various contracts built on the Cardano network. With the inclusion of staking, Cardano’s TVL is greater and stood at $313 million at press time.
Although the foundations for future improvements in the Cardano ecosystem have been laid, ADA price has failed to catch up as it remains down nearly 75% from its all-time high of 3 .10$. ADA is currently trading in a narrow range at $0.85, hinting at a major price move to come.
According to IntoTheBlock data, ADA has a 60% 30-day correlation with BTC; therefore, traders and investors should keep a close eye on Bitcoin’s price action.
