Investing.com | Editor Malvika Gurung
Published Nov 08, 2023 06:28
Cardano ($ADA) continues to be the frontrunner in cryptocurrency development activity, outpacing other major cryptocurrencies such as Polkadot ($DOT), Kusama ($KSM), Hedera ($HBAR), Aptos ($APT), Status ($SNT), Chainlink ($LINK), Cosmos ($ATOM), and Ethereum ($ETH). This information is based on Santiment’s event-based metrics, which evaluate activities on GitHub repositories over the past month. The firm’s approach includes monitoring forking actions and pushing commits, while avoiding duplication of commits to ensure accuracy.
The increase in Cardano’s development activity has been accompanied by a robust market performance. In the past two weeks, Cardano’s price has soared 36.5%, ADA address activity has risen 23%, and whale transactions have grown by 32%. This overall surge in on-chain activity indicates a heightened interest and engagement with the Cardano network.
Despite a potential median monthly return decline of 2.5%, historical data suggests a positive outlook for ADA’s price in November. The data indicates a potential 43.5% increase for ADA’s price this month, which would signify a significant return for investors and further establish Cardano’s position in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
