Data shows that Internet computers have become the number one coin in this metric, in terms of aspects such as Ethereum (ETH) and Cardano (ADA).
Internet computers rank first in the development activity list
In a new post on X, analytics firm Santiment shares the ranking of the industry’s top cryptocurrencies in terms of development activity measurements over the past month. As the name implies, development activity measures are the workload developers of digital asset projects are investing it into their public GitHub repository.
This metric can be used to make this measure based on “events”, i.e. an event occurs whenever a developer takes any action on the repository (such as pushing a commit, creating a problem, or creating a pull request).
This metric is not just a gauging of the number of submitted numbers as a gauging for development efforts, so many projects in the industry are forks of another project (i.e. a copy of it up to a certain point).
Fox inherited the commits of previous projects, but these promises naturally do not represent the work done by new developers. The entire behavior of the fork is just one event in the analysis company methodology, with past events not transitioning, so the metric provides a “real” representation of the developer’s work.
Now here is the table shared by Santiment, which shows the top 10 cryptocurrencies in this metric last month:
Looks like ETH is currently dead last on the list | Source: Santiment on X
As mentioned above, Internet computers have been the number one coin in development activities in the past month, and the current value of this indicator is 557.7. ChainLink (Link) gets the second position with a value of 370.8 and Starknet (Strk) takes 260.6 as the third position.
Despite its large market capitalization, Cardano ranks fourth in fourth place with an indicator of 238.63. However, what is more obvious is Ethereum’s position. The coin is the second largest coin in the entire field, but completed the last big among the listed cryptocurrencies with a value of only 185.73.
Now, what does the development activity mean for assets? The high value of the indicator can indicate that the developer of the project is committed to the project. While not the only factor to be aware of, it may indicate that the project can last longer than just another carpet.
Internet computers surpass others in the metric system, which means their developers are working to improve the network. But while this may be a positive sign for the future, this behind-the-scenes work is usually not translated directly into price, at least not immediately.
ICP Price
At the time of writing, Internet computers rose by about $5.26, down more than 10% over the past week.
The price of Internet Computer seems to have moved sideways over the last month | Source: ICPUSDT on TradingView
Featured images from dall-e, santiment.net, charts from tradingview.com
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