The development activity of a cryptocurrency project is a critical factor in determining its potential success and growth. A dedicated team of developers working on improvements and innovations enhances a digital asset’s functionality and long-term prospects. Key indicators of high development activity include confidence in the project’s success, commitment to shipping new features, and a reduced likelihood of being an exit scam.
In the past 30 days, Santiment has identified several leading blockchain projects in terms of development activity. Among these projects, 17 of the top 20 are also ranked within the top 100 market cap, indicating a strong correlation between development activity and market performance.
A comparison of the price returns of the top 20 developed projects over the past six months reveals interesting insights. The top 10 most developed projects had an average 6-month price change of -3%, while projects ranked 11-20 experienced a more significant average price change of -14%.
It’s essential to monitor trends in development activity, as projects with increasing activity levels are often more promising than those with declining activity. Blockchain projects, like Polkadot, Cardano, and Ethereum, with strong development activity, are less likely to experience sudden declines, instilling confidence in their long-term prospects. Investors should keep tabs on projects with high development activity to optimize their portfolios.