Cardano (ADA), one of the popular altcoin projects, is steadily increasing in popularity and is in the top 3 among the most advanced cryptocurrencies in the crypto market. Although it has suffered from the recent general crypto market correction, Cardano’s development activities ensure that it remains at the top of the crypto markets.
Cardano continues to evolve as an altcoin project
The latest data shared is heartwarming for Cardano. According to the Activity Contributors Count, Cardano ranks third in the number of contributions. According to Santiment data shared by Coin98 Analytics, Cardano (ADA) remains one of the most actively developed networks in the blockchain industry. Solana is at the top of the list. Solana remains the most actively developed project in the market and ranks first with 533 active participants. Second place is held by the leading altcoin, Ethereum.
According to the information received, at the time of writing, Cardano has around 120 active diary participants who are constantly working on the development of the network. Santiment’s metric tracks activity and number of contributions from resources like GitHub. The more users contribute to the project, the higher it ranks in the ranking. Another indicator from the same providers shows that Cardano blockchain development activity remains in second place, while Solana is still in first place. With the release of smart contract technology for the Cardano blockchain, more developers have started using the network and posting various use cases.
The largest by far is the SundaeSwap decentralized exchange platform, which holds at least 96% of the total value locked on the chain. According to the DeFi LIama monitoring service, more than $120 million in Cardano is currently locked in various contracts created on the Cardano network. SundaeSwap comes first, followed by another decentralized exchange, MuesliSwap. The latest update received by Cardano was the expansion of Plutus Scripts to 80 kb. However, while the update can be considered a major upgrade for the development of the network, the market does not seem to consider it in the short term.