Taking a Look at the Current Top 10 Fastest Developing Assets
Development activity can be a very important metric to keep a close eye on for your favorite projects. Particularly when markets are down, and the questions of which projects could potentially be "scams" really begin to arise.
We look at GitHub activity analyzing ICOs and crypto projects to really see what is going on behind the curtains as developers work to innovate and improve. In our article about how we track development activity and our methodologies behind it, we note three important reasons for rising and high activity to be an important factor when studying developers' time and submission 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
And as many of you know, we have a screener view on Santiment, which allows you to sort amongst the projects that matter most to you. From this view, you can easily sort by price, volume, development activity, or daily active addresses among other metrics.
According to our development activity, 30d column, Uniswap is head and shoulders above the nearest project in terms of daily notable updates to its Github. However, it's also important to analyze whether the development for UNI and other top 10 assets on this list is on the rise, or whether it's stagnating. We'll take a look at each projects' trajectory of their development to see what we can conclude:
Uniswap ($UNI) - 1,430 Github Submissions Per Day
Uniswap's development activity has absolutely exploded since mid-January, going from a slightly above average developed altcoin to the top developed by over 3x the nearest project. And the shocking thing is that UNI just continues to rise in daily submissions after its initial surge at the beginning of the year. The price of this DeFi asset has taken a beating over the past year, but this is still a "development" worth keeping an eye on.
Solana ($SOL) - 408 Github Submissions Per Day
Solana is a relatively newer asset, being publicly traded for about two years now. That said, the development activity really took a sharp step upward right before the SOL mania all-time high in late October. After peaking about three months ago, the development rate has calmed down mildly. But at 408 submissions per day, the team behind Solana is clearly looking to constantly improve the asset.
Filecoin ($FIL) - 342 Github Submissions Per Day
Filecoin is one of the quieter top 50 market cap assets on the market, with less notoriety than a lot of assets with half its market cap. Regardless, the team has really increased their efforts to innovate the asset at a rapid pace. Heading into Q2 of this year, it is developing at an all-time high rate in spite of prices falling about -87% in the past year.
Polkadot ($DOT) - 325 Github Submissions Per Day
Polkadot's development team has zig-zagged with their development rates over the past year, and is not quite putting up the staggering 450+ submission per day rate that it was at points in 2021. But the 16th market cap ranked cryptocurrency is still sitting in a good place with 334 github submissions per day.
Kusama ($KSM) - 325 Github Submissions Per Day
Kusama is on the same github as Polkadot, which makes its chart identical to it. You can explect that their prices will fluctuate in similar ways because of this.
Cardano ($ADA) - 304 Github Submissions Per Day
Cardano is no longer a top 10 market cap asset after its continued fall from grace as 2022 has progressed. Throughout 2021, it was THE #1 developed asset according to its notable github submissions. And this likely had a lot to do with its tremendous decoupling from the rest of the markets in August. As of now, its development rate has normalized a bit.
Status ($SNT) - 304 Github Submissions Per Day
Status has the smallest market cap by far inside our top 10 top development activity list, ranked as the 252nd largest market cap in crypto. Like most ERC-20's, this coin has really slid in 2022. However, notice the gradual uptick in development activity throughout the past year. This is a very good sign for a relatively small asset.
Flow ($FLOW) - 260 Github Submissions Per Day
Flow seems to have a development team that goes on and off a bit. But when they are on, they really innovate rapidly. Price-wise, this is another asset that has dropped over -85% in the past year. But on the development activity side of things, FLOW is seeing significantly more work done by its coders than it was when its prices were at $34.
IOTA ($MIOTA) - 249 Github Submissions Per Day
IOTA has interestingly seen a valley throughout the previous year, in terms of development activity. But as of February, it has returned to being a top 10 developed asset on our platform, sitting at about 250 github submissions per day, about the same rate it was seeing last April.
Cosmos ($ATOM) - 225 Github Submissions Per Day
Cosmos is moving in the right direction in terms of its development activity. The 28th largest asset by market cap has inched its way to near all-time high development levels, indicating the coin has quite the dedicated team that has only increased its submission rate during these market-wide declining prices.
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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