Hedera spearheads June developer activity with 805 GitHub events despite a price drop.
ChainLink maintains strong development with 560 events and an $8.64B market cap.
Polkadot shows stability with the smallest price drop and steady developer activity.
Despite a widespread crypto market downturn in June, development activity on several major blockchain projects remained robust, according to a new report from CryptoDep.
⚡️Top #Crypto Projects by Developer Activity in June Dev.Activity – the development activity of a project done in its public #Github repositories. Development Activity metrics are measured in a number of @Github events. #Hedera – 805 #ChainLink – 560 #Optimism – 498 #ICP… pic.twitter.com/VVaix3PXJ7
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) June 28, 2024
The ranking highlights which projects are attracting the most development work, reflecting their ongoing growth and innovation. Developer activity is gauged by the number of GitHub events, indicating how actively developers are working on a project’s codebase.
The analysis, which tracked GitHub events as a proxy for developer engagement, revealed that Hedera (HBAR) led the pack with 805 events, followed by Chainlink (LINK) with 560. This suggests that even amid price declines, some projects are doubling down on building and improving their technologies.
Optimism (OP) secured third place with 498 GitHub events. Despite a 29.7% price decrease, this level of activity suggests a significant focus on scalability and improving the user experience. Internet Computer (ICP), with 457 events, showed substantial development effort even as its price fell by 32.7%. This highlights the project’s resilience and dedication to technological progress.
Cardano (ADA), the project with the highest market cap at $13.6 billion among those listed, recorded 454 GitHub events. Its price drop of 16.2% was relatively moderate, reflecting a stable and consistent development pace. Cosmos (ATOM), with 373 events and a 21.9% price decline, demonstrates its ongoing commitment to enhancing blockchain interoperability solutions.
zkSync (ZK), focused on scalability solutions, reported 357 GitHub events. Despite a market cap of $597 million, this level of developer activity underscores its growth potential. Aptos (APT) followed with 338 events, maintaining a robust development pace despite a 25.0% drop in price. This ongoing activity highlights its efforts to strengthen its blockchain platform.
StarkNet (STRK) saw the largest price drop at 42.5%, yet recorded 328 GitHub events. This significant developer activity indicates continuous efforts to improve scalability solutions. Lastly, Polkadot (DOT) with a market cap of $8.66 billion, had 272 events. Its price drop of 15.3% was the smallest among the listed projects, pointing to relative market stability.
CryptoDep’s ranking offers valuable insights into where development efforts are most concentrated in the crypto space. High developer activity often correlates with continuous improvements and innovations, giving investors and enthusiasts a clearer picture of which projects are pushing forward.
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