• Cardano unseats 9 Blockchain protocols, leading overall development activity in 2022.
• Santiment reveals a bullish reversal trend among ADA sellers with short positions being significantly reduced.
• Cardano also led overall blockchain activity in 2021, with development activity surpassing 140,000.
Cardano, the world’s third-largest cryptocurrency by market capitalization, has yet again emerged as the leader in terms of blockchain development activity. According to data from Santiment, Cardano (ADA) unseated nine other blockchain protocols to take the top spot in the dev-activity metric for 2022.
Santiment, in a tweet today, revealed that Cardano was the leading blockchain for development activity in 2022, followed by Polkadot (DOT), Cosmos (ATOM), Ethereum (ETH), InternetComputer (ICP), Elrond (EGLD), Flow (FLOW), Optimism (OP), Aptos (APT), and Polygon (MATIC).
The milestone is quite remarkable for the Cardano network, considering that the year was mostly filled with continuous pushback, as the bear market stunted the growth of many protocols. Cardano’s success in this regard can be attributed to the active network contributors, which came to a total of 53. Additionally, Santiment also noted the state of the Solana and Aptos Blockchain.
It explained that Aptos had been working hard prior to its mainnet launch, and had slowed down after. Solana, on the other hand, had a strong development activity metric that was declining heavily throughout the year.
Santiment also revealed a bullish reversal trend among ADA sellers. It noted that the number of short positions had reduced significantly, indicating a potential bullish reversal.
The data from Santiment comes as no surprise given that Cardano also led overall blockchain activity in 2021. Last year, development activity on the network surpassed 140,000. The growth can be credited to active network contributors, as well as the introduction of the Mary hardfork, which brought about a number of new features and improvements. Additionally, the Shelley upgrade, which enabled staking and delegation on the network, further boosted its activity.
Cardano’s success in the development activity metric is a testament to its commitment to the blockchain space. It has consistently been at the forefront of innovation, introducing new features and protocols that have revolutionized the industry. With its continued dedication to the space, it is likely that Cardano will remain the leading blockchain development platform in the coming years.