Looking at the Current Top 20 Fastest Developed Assets in Crypto
When it comes to development activity of assets, traders often have polarizing opinions on just how important it is for cryptocurrencies to be consistently innovated and improved. After all, just how important is it for a team of coders to be working on the functionality of an asset when it is already working as intended with minimal issues?
Well, it's certainly a topic for debate. And we have a long-standing fantastic article written about how Santiment tracks development activity, and why it's such a vital metric.
In it, we discuss how simply tracking the raw number of Github activity for an asset's team can be highly misleading. There tend to be many redundant updates, and many githubs actually count every individual Slack message, making a raw count of them essentially meaningless.
However, Santiment filters through the noise and ignores general routine updates or Slack conversations that don't actually contribute something that could be interpreted as a meaningful innovation or improvement for an asset.
We can be certain of three things when discovering that a project has high and thriving development activity rates:
- These people believe that the project will be successful
- The project is shipping more features
- There is less probability the project is just an exit scam
So with this said, let's take a look at some of the leaders over the past 30 days for our development activity metric:
It's no coincidence that 17 of these 20 leading assets are ones that are in the top 100 market cap. There is a high correlation between assets that are amongst the leading price gainers over a long period of time, and those that have the most dedicated teams to advance the asset's presence in the space.
All projects on this list have existed for over a year as well. So let's break down each of their price returns over the past 6 months:
- T1 - Kusama ($KSM): -12% Change
- T1 - Polkadot ($DOT): -8% Change
- 3 - Cardano ($ADA): +2% Change
- 4 - Cosmos ($ATOM): -9% Change
- 5 - Hedera ($HBAR): +1% Change
- 6 - Internet Computer ($ICP): +5% Change
- 7 - Status ($SNT): -6% Change
- 8 - Ethereum ($ETH): +26% Change
- 9 - Decentraland ($MANA): -14% Change
- 10 - Vega Protocol ($VEGA): -17% Change
- 11 - Aptos ($APT): +14% Change
- 12 - Chainlink ($LINK): -1% Change
- 13 - IOTA ($MIOTA): -23% Change
- 14 - Flow ($FLOW): -47% Change
- 15 - Osmosis ($OSMO): -37% Change
- 16 - MultiversX ($EGLD): -18% Change
- T17 - Avalanche - BNB Chain ($AVAX): +2% Change
- T17 - Avalanche ($AVAX): +2% Change
- 19 - Filecoin ($FIL): +1% Change
- 20 - Uniswap ($UNI): -18% Change
Now, this is only a small sample size of the top 20 recent most developed assets over the past 6 months. But just calculating the 1-10 projects vs. 11-20 projects, we see this differentiation:
- Top 1-10 Most Developed, Past 6-Month Average Price Change: -3%
- Top 11-20 Most Developed, Past 6-Month Average Price Change: -14%
This is actually a pretty dramatic difference. Generally speaking, the further down you go on the development activity list, the worse average performances you'll see. Just keep in mind there will be tons of exceptions, so take this with a grain of salt.
Also, pay close attention to the trends. It's more intriguing to see an asset on the rise than one that is slowly falling:
Of note, we can see that the Kusama/Polkadot github repository (which shares the red line) and Hedera line (orange) are continuing to increase very notably since 2020.
Meanwhile, Cardano (yellow) is still seeing tons of development, but hasn't quite increased over the past 3 years the way most of the other projects on this chart have. Filecoin (peach) also seems to have dropped down since the start of the year.
In conclusion, remember that development activity is just one of many metrics to keep tabs on as you try to optimize your portfolio. If your project is on this list, it should be a bode of confidence that you won't have to worry about the asset dropping off a cliff any time soon.
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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