Polkadot has been ranked high in terms of development activities. The combination of chains and dApps in the ecosystem could contribute.
Compared to chains like Ethereum [ETH], Polkadot’s [DOT] development activity rate remained high over the past week. While this may not imply much on its own, it can provide insight into the future of DOT, when combined with other indicators.
According to a March 19 Proof of GitHub post, Polkadot had the highest development activity of its competitors. Looking back on the earlier days, Polkadot was also at the forefront of development activity.
Based on a tweet posted by ProofofGitHub on March 19, this was the GitHub Daily Development Activity:
“#1: 311 Polkadot / Kusama
#2: 226 NEM
#3: 153 Aptos
#4: 113 Celo Euro
#5: 113 Celo
#6: 113 Celo Dollar
#7: 94 Ethereum
#8: 78 ChainLink
#9: 74 Ribbon Finance
#10: 68 Zus”
Additionally, there was a spike in Polkadot development activity on March 18, according to Santiment. Currently, the development activity metric topped 100, marking its highest level in four months. There was a symmetry between the release time level on Santiment and GitHub.
Understanding Polkadot High Development Activity
Examining the Polkadot ecosystem may shed light on the phenomenon of persistently high levels of development activity. Like its Kusama testnet, Polkadot features numerous chains within its infrastructure, hosting a wide variety of decentralized applications (dApps).
The total development activity in the ecosystem can be increased by aggregating all the commitments made by developers across all chains and dApps. However, developers are constantly improving the network, which is positively reflected in the number of developers.
High development activity can indicate that the project is actively looking for new ways to innovate and improve, which can improve its prospects for long-term success. A strong team of developers and contributors dedicated to project success can also be indicated by a project’s high level of development activity.
Watching the DOT Price and Volume Trend
Development activity on Polkadot has been on the rise, but the price of the cryptocurrency hasn’t fared as well. However, at the time of writing, it had gained over 3% and was trading at approximately $6.5. According to the daily time frame chart, it was now in a slight rally after several weeks of recession.
The DOT volume also indicated that there had been little action. Volume was above 275 million at the time of writing, with no apparent increases.
Despite the market downturn, developers still seem eager to participate in the Polkadot ecosystem. If the projects reach critical mass, DOT and other tokens in the ecosystem may gain momentum when the bull market gets underway.
By Audy Castaneda
