Data show that the internet computer has become number one in this metric in this metric, before Ethereum (Eth) and Cardano (ADA) such as Ethereum (ETH) and Cardano (ADA).
Internet computer is number one classified on the DEV activity list
In a new contribution to X, the Analytics company Santiment shared how the top cryptocurrencies in this sector rose in the past month with regard to the metricist of the development. As the name suggests, development activity measures the work that the developers of a digital asset project bring into their public Github repositors.
The indicator makes this measurement in relation to “events”, with an event occurring if the developer took measures in the repository, e.g. B. writing a commit, creating a problem or a pull request.
The reason why the metric does not simply take the number of commits such as the measuring device for development work is that many projects in the industry are forks (ie copies up to a certain point) of another project.
Forks inherit the commits from the previous project, but of course these commits do not represent the work of the new developer. The entire act of the GAB is only an event in the methodology of the analytics company, whereby the previous events do not pass, so that the indicator provides a “true” representation of the work of the developer.
Here is the table of Santiment, which shows the top 10 cryptocurrencies in this indicator last month:
Looks like ETH is currently dead last on the list | Source: Santiment on X
As visible above, the internet computer was number one in development activity last month, whereby the value of the metric is currently 557.7. Chainlink (link) took second place with a value of 370.8 and Starknet (StrK) with 260.6 as a third position.
Although Cardano is larger in market capitalization, he has fourth place with the indicator of 238.63. The position of Ethereum is even more remarkable. The coin is the second largest in the entire sector, but ended the last one from the cryptocurrencies listed with a value of only 185.73.
What does development activities mean for an asset? A high value of the metric can indicate that the developers of the project are committed to him. Although it is certainly not the only factor you have to pay attention to, it can be a sign that the project could be in the long run and not just another carpet pull.
The internet computer, which stands over the rest of the metric, implies that its developers are working hard to improve the network. Although this can be a positive indication of the future, this work behind the scenes does not normally lead directly to the price, at least not immediately.
ICP price
At the time of writing, the internet computer hovers by around 5.26 US dollars last week.
The price of Internet Computer seems to have moved sideways over the last month | Source: ICPUSDT on TradingView
Selected picture of Dall-E, santiment.net, diagram of tradingview.com
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