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Ethereum Ranks #8 Among Top Developed Blockchains

2 mins
Updated by Ali Martinez
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In Brief

  • Development activity plays a significant role in determining a cryptocurrency project's potential success.
  • On-chain metrics track development activity by filtering out noise and focusing on meaningful contributions.
  • There is a strong correlation between development activity and the performance of a project's price.
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Development activity plays a crucial role in determining a cryptocurrency project’s potential success and growth. A dedicated team of developers, like Ethereum, consistently working on improvements and innovations enhances a digital asset’s functionality and long-term prospects.

Development activity can be tracked by filtering out redundant updates and noise, focusing on meaningful contributions to a project’s growth.

Key Indicators of High Development Activity

When a project exhibits high development activity, it suggests:

  • Confidence in the project’s success.
  • A commitment to shipping new features.
  • A reduced likelihood of being an exit scam.

Top Blockchain Projects by Development Activity

In the past 30 days, Santiment, a leading crypto analytics platform, 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.

Performance of Top Developed Projects Over Six Months

A comparison of the price returns of the top 20 developed projects over the past six months reveals interesting insights:

  • Kusama (KSM) and Polkadot (DOT) both experienced a decline in price, with changes of -12% and -8%, respectively.
  • Ethereum (ETH) recorded a significant price increase of +26%.
  • Cardano (ADA) and Hedera (HBAR) witnessed minor gains, with +2% and +1% changes, respectively.
  • Decentraland (MANA) and Vega Protocol (VEGA) saw price drops of -14% and -17%, respectively.

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. For instance:

  • The shared Kusama and Polkadot GitHub (red line) have seen a notable increase in development. The continuous improvements on the network make them rank first.
  • Cardano (yellow line) continues to experience substantial development. Still, its price hasn’t increased at the same rate as other projects over the past three years.
  • Filecoin (peach line) has observed a decline in development activity since the beginning of the year.
Ethereum Blockchain Development Activity
Blockchain Development Activity. Source: Santiment

Development Activity as a Vital Metric

Development activity is a crucial metric for evaluating a cryptocurrency project’s potential for success and growth. Investors should keep tabs on projects with high development activity to optimize their portfolios.

Blockchains, like Polkadot, Cardano, and Ethereum, with strong development activity are less likely to experience sudden declines, instilling confidence in their long-term prospects.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

Ali Martinez
Ali Martinez is the Global Head of News at BeInCrypto, specializing in market analysis, emerging trends in the crypto industry, Bitcoin’s four-year cycle, and macroeconomic developments. Previously, he covered the altcoins market for Crypto Briefing, CryptoSlate,, and NewsBTC. His reporting focused on the ICO boom, Ethereum's evolution, Bitcoin halvings, and network upgrades like hard forks and soft forks, emphasizing the impact on digital asset valuations. At Binance and FXStreet,...