Recently, Phoenix Group published the list of the most active crypto projects for the last six months based on GitHub. Leading the list is Internet Computer (ICP), but names such as Bitcoin (BTC) and PancakeSwap (CAKE) are also on the list owing to their continued development activities.
THE MOST ACTIVE CRYPTOS BASED ON THE #GITHUB DATA FOR 6 MONTHS $ICP $SUSHI $LINK $BTC $MINA $ATOM $STORJ $RBC $CAKE $NEAR pic.twitter.com/HbM8m59Wr1
— PHOENIX – Crypto News & Analytics (@pnxgrp) November 6, 2024
Internet Computer (ICP) Leads the Way
Cryptocurrency is a very dynamic industry where project advancement is one of the key markers for the sustainability of a project. Based on the GitHub data, Internet Computer (ICP) was identified as the project with 3,138 commits and contributions from more than 100 developers. While ICP has seen a price depreciation of 5.9% in the last month, its continuous efforts to develop imply that ICP’s team and supporters are committed to adding new functionalities.
Sushi and Chainlink: Innovating DeFi and Oracles
The second most active project is Sushi (SUSHI) in the decentralized finance (DeFi) space, with more than 2,100 commits accepted and 26 contributors. Similar to ICP, recently, Sushi has had a 5.9% price drop.
Sushi, the next project quite active in commits, has been Chainlink, which has 1,431 commits and over 100 contributions. A decentralized oracle is particularly helpful for linking smart contracts to the outside world, and Chainlink, which has surged by 5.5% over the past month, performs this job well.
Bitcoin’s Sustained Development
Even being the oldest and one of the most stable cryptocurrencies, Bitcoin (BTC) is still one of the most actively developed, with 1,412 commits from 99 contributors. This can be explained by the fact that Bitcoin is still under development, and new solutions to make the system faster, more secure, and more sustainable are constantly being launched.
Mina and Cosmos: Push for Interoperability
Coming in at fifth with 1,234 commits and contributions from over 100 developers, Mina Protocol (MINA) is known as the world’s lightest blockchain. As for the results of development activity, there are indications of stable interest in MINA: the project’s price rose by only 0.5% over the past month.
Cosmos (ATOM), which claims to be designed for interconnected blockchains, registered 1,119 commits and 99 contributors for its development. Despite Cosmo’s loss of 2.7% in value, its developer activity is still active, especially in establishing a blockchain link.
Storj and Rubic’s and Others
The decentralized cloud storage solution, Storj (STORJ), has garnered interest with 1,023 commits and contributions by more than 100 developers. Storj recently saw a price rise of 16.0%; it shows a rising market demand for decentralized storage as more and more people look for safer and cheaper cloud storage.
Rubic (RBC) made 992 commits with 20 contributors to allow users to swap tokens across different chains. Despite RBC’s price decrease of 9.8%, development efforts for the project imply scalability in the wake of rising interconnectivity within the crypto sphere.
Automated market maker PancakeSwap (CAKE) on the Binance Smart Chain had 764 commits from more than 100 contributors. Despite a 5.5% price drop, PancakeSwap enjoys DeFi popularity thanks to low fees and high yields. T
Rounding up the list is NEAR Protocol (NEAR), with 734 commits from 100+ contributions. While NEAR’s price has decreased by 12.8%, the activity of its development team shows that there is a long-term investment in technical improvements based on user experience and developer’s needs.
Wrap Up
To investors, monitoring the developer’s activity is beneficial as a way to identify which projects are preparing for the next stage of development and security. High activity on GitHub can indicate not only technical advances necessary for growth but also the existence of a strong community that can stimulate demand and create value.
