The Leading 10 Cryptocurrencies Based on Significant Development Activity (Santiment)

Summary

• Internet Computer (ICP), Chainlink (LINK), and Hedera (HBAR) maintained their leading positions in terms of significant development activity.
• The rankings are determined by analyzing filtered development events that signify genuine progress, highlighting active developer contributions.

The Leading Ten

The analytics platform Santiment recently indicated that Internet Computer (ICP) topped the list for significant development activity in the last month, achieving a score of 409.63.

The cryptocurrency started December strongly, with its price surging to over $15, a level not seen for several months. However, subsequent market corrections saw ICP drop below $10, according to available data.

Chainlink (LINK) secured the second position with a score of 287.07, and Hedera (HBAR) followed in third place. Notably, the top three rankings remained unchanged from prior assessments.

Starknet (STRK) advanced to the fourth position, while Cardano (ADA) fell to fifth. Like ICP and several other cryptocurrencies, ADA had a strong start in December, peaking at $1.30 on December 7, a threshold last reached at the beginning of 2022. However, this peak was brief, and ADA is currently trading around $0.84.

Other cryptocurrencies in the ranking include Optimism (OP), Polkadot (DOT), Kusama (KSM), DeFiChain (DFI), and sUSD (SUSD).

Methodology Insights

For the analysis, the Santiment team utilized the Ecosystem Dev Activity Dashboard, which displays the number of development actions occurring across different blockchains and their associated decentralized applications (dApps).

“These actions are meticulously filtered to reflect true programming advancements, ensuring that insignificant activities are not considered. This approach allows anyone curious about cryptocurrencies to identify the most active ecosystems,” the team clarified.

The team also emphasized the significance of community size in a project, particularly the number of developers who are actively participating in the ecosystem.

Moreover, Santiment pointed out the distinction between development activity and GitHub activity. Development activity encompasses specific types of events, omitting commits, forks, comments, and managerial tasks. On the other hand, GitHub activity includes a broader array of metrics beyond just commits.

“A critical difference between development activity and GitHub activity is that development activity provides a fairer means to compare various organizations. This is because some events excluded from development activity pertain to issues and their comments,” the Santiment team concluded.