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Chainlink, Cardano, Polkadot Amongst Most Developed Altcoins

2 mins
Updated by Bary Rahma
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In Brief

  • Chainlink, Cardano, and Polkadot lead in development and community engagement.
  • Significant increases in social activity and project contributions noted for these cryptos.
  • Technical analysts remain optimistic about future price potential growth of these altcoins.
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Several altcoins have emerged as front-runners in terms of development and community engagement.

According to recent blockchain analytics by Santiment, Chainlink, Cardano, and Polkadot lead the pack with the most significant github activity over the past 30 days. This metric, an indicator of non-redundant project contributions and enhancements, positions these digital assets as key players in the blockchain innovation race.

Chainlink, known for its decentralized oracle network facilitating smart contracts, has shown remarkable development efforts.

Analyst Michaël van de Poppe highlighted Chainlink’s recent successful retest of support levels, suggesting an optimistic trajectory for its value. Echoing this sentiment, analyst Inmortal set an ambitious $34 price target for Chainlink, underlining the high expectations from its technological advancements and market performance.

Most Developed Altcoins
Most Developed Altcoins. Source: Santiment

Cardano, with its robust Proof-of-Stake (PoS) blockchain, has not only seen a surge in development activities but also a significant uptick in social engagement.

LunarCrush reported a 131.7% increase in social creators and a 270.7% jump in social posts about Cardano over the last three months, leading to a 33.1% rise in total social interactions. This heightened social buzz complements Cardano’s substantial growth in Total Value Locked (TVL), which has recently hit the $600 million mark.

Read more: Which Are the Best Altcoins To Invest in March 2024?

Crypto analyst Lark Davis pointed out that despite being overlooked in the current cycle, Cardano’s increasing TVL signifies its growing utility and adoption.

Cardano's Total Value Locked
Cardano’s Total Value Locked. Source: DeFiLlama

Polkadot unique interoperability and scalable multi-chain architecture have caught the eye of investors and developers alike.

Trader XO expressed interest in Polkadot’s price holding between $6-$8 as a buying opportunity. He remains bullish on its long-term potential, suggesting a possible rally to $12 or even $20, contingent on its market resilience and community growth.

Read more: 11 Best Altcoin Exchanges for Crypto Trading in March 2024

These developments underscore the vibrant ecosystem of altcoins beyond the dominant Bitcoin and Ethereum narratives. Chainlink, Cardano, and Polkadot, with their cutting-edge technologies and growing communities, are shaping the future of blockchain and offering promising investment opportunities.

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Bary Rahma
Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.