Cardano’s development activity remains at the top despite sell-off on crypto markets
Cardano remains one of the most actively developed networks in the blockchain industry, according to Santiment data shared by Coin98 Analytics. According to the Activity Contributors Count, Cardano remains in third place in the number of contributions.
Solana remains the most actively developed project on the market and keeps first place with 533 active contributors. Second place is held by the second-largest network in the industry: Ethereum.
At press time, Cardano has around 120 active daily contributors who are constantly working to develop the network. Santiment’s metric tracks the activity and number of contributions on resources such as GitHub. With more users contributing to the project, the higher it gets in the rankings.
Another indicator from the same providers suggests that the development activity of Cardano blockchain remains in second place, while Solana still holds first.
Cardano Fundamental Bottom Growth
With the release of smart contract technology for the Cardano blockchain, more developers have started using the network and releasing various use cases. The largest to date is the decentralized exchange SundaeSwap which holds at least 96% of the total value locked on-chain.
According to the DeFi LIama tracking service, more than $120 million worth of Cardano is currently locked in various contracts built on the Cardano network. SundaeSwap holds $119 million out of $121 million, while second place goes to another decentralized exchange, MuesliSwap.
The most recent update Cardano received was the memory increase for Plutus Scripts to 80KB. But while the update could be considered a major upgrade for network development, the market does not seem not assess it in the short term.
