According to CryptoPotato, Cardano's ADA has surpassed Bitcoin (BTC) and Ethereum (ETH) in development activity, despite a recent 20% price drop. Analysts predict a bullish future for ADA, including a potential 'parabolic' spike to $10. IntoTheBlock reports that Cardano's ADA is currently the top cryptocurrency by development activity, with the highest amount of weekly engagements. Ethereum (ETH) and Bitcoin (BTC) were placed second and fifth, respectively, while Avalanche (AVAX) is third and Litecoin (LTC) is fourth.

This is not the first time ADA has surpassed its rivals in this field. In January, the asset topped the same ranking on a monthly scale, outperforming Polkadot (DOT) and Kusama Network (KSM), which rounded up the top three list. Despite its success, ADA's price has been in the red in the past several days, plunging by 20% on a two-week basis.

However, multiple analysts have recently outlined bullish predictions for the asset, envisioning a new all-time high in the near future. One example is analyst Ali, who compared the token's performance to that of its previous bull cycle, claiming this could lead to a 'parabolic' spike to as high as $10.