Polkadot Leads in Crypto Development Activity, But DOT Is in the Doldrums

Polkadot Leads in Crypto Development Activity, But DOT Is in the Doldrums
фото показано с : beincrypto.com

2023-7-6 12:30

Multi-chain crypto network Polkadot has the highest developer activity, according to recent research. However, that has not been reflected in the prices of its native token DOT which remains in the digital doldrums.

On July 6, blockchain analytics platform Santiment published its latest crypto development activity list, and there were some surprising results.

Polkadot Development Activity Climbing

Developer activity on the Polkadot network is much higher than that of its competitors, according to Santiment.

The analytics platform recorded a 30-day developer activity figure of 546 for Polkadot and its “canary network” Kusama. The two networks remain at the top of the list.

It analyses GitHub activity over a month to derive these gauges of developer activity on each network.

Polkadot tops developer activity rankings. Source: Twitter/Santiment

Cardano was second after the two Polkadot networks, with a monthly developer activity count of 507, according to Santiment.

However, there were some surprises with the rest of the rankings.  

The relatively obscure secure messaging app, crypto wallet, and web3 browser project Status came in third with 400 active developers for the month.

Next on the list was the Hedera blockchain network, also with 400 active developers.

Surprisingly, the Internet Computer (ICP) came in sixth place with 392 active developers for the month. Since its much-hyped launch in May 2021, there has been very little news from the Dfinity project.

Its native token, which surged to crypto’s fourth largest after launch, is one of the market’s worst performers, having virtually collapsed.

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Cosmos, Vega Protocol, Chainlink, and Decentraland made up the rest of the top ten. There was no mention of Ethereum.

It is also surprising that Polkadot is the most actively developed network since its native DOT token has done very little in recent months.

However, Polkadot continues to onboard new crypto projects through its sidechain or parachain auctions. On July 3, Polkadot posted an update on recent ecosystem developments, including more work with artificial intelligence (AI).

DOT Price In the Doldrums

DOT has been down-trending for the past year and has done very little during the 2023 crypto market rally. As a result, the token has fallen out of the crypto top ten.

The token is struggling to breach the $6 level and is down 2% on the day at $5.24 at the time of writing.

DOT Price 1 year. Source: BeInCrypto

DOT hit a 2023 high of $7.53 in February but has failed to return to those levels since then despite Bitcoin’s big rallies this year.

Furthermore, DOT has been battered by 90% since its all-time high of $55 in November 2021.

The post Polkadot Leads in Crypto Development Activity, But DOT Is in the Doldrums appeared first on BeInCrypto.

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Источник: beincrypto.com

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